Reporting The owners\' equity in a corporation.Stockholders\' Equity Using the f
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Reporting The owners' equity in a corporation.Stockholders' Equity
Using the following accounts and balances, prepare the Stockholders' Equity section of the balance sheet using Method 1 of Exhibit 8. 90,000 shares of The stock outstanding when a corporation has issued only one class of stock.common stock authorized, and 4,000 shares have been reacquired.
Common Stock, $70 par $4,410,000 Paid-In Capital from Sale of Treasury Stock 176,000 Paid-In Capital in Excess of Par—Common Stock 1,575,000 Retained Earnings 2,425,000 Treasury Stock 107,000 "3 Course Schedule-A Shea Moisture Manu Cengage i: CengageNowy2 × e Chegg Study! Guide News! Dashboard + v LT X v2 cengagenow.com/ilm Assignmentain do?invoker-assignments takeAssignmen Session cator-assignment-takem Ch 13-2 Practice Exercises eBook Show Me How Calculator Print item Paid-In Capital in Excess of Par-Common Stock Retained Earnings Treasury Stock 1,575,000 2,425,000 107,000 1. PE. 13-01.ALGO 2. PE.13-02.ALGO 3. PE.13-03.ALGO 4. PE. 13-04.ALGO Stockholders' Equity 5. PE.13-05.ALGO Paid-In Capital: 6. PE.13-06.ALGO 7. PE. 13-08.ALGO 8. PE.13-07.ALGO Total Paid-In Capital Total Total Stockholders Equity Check My Work 2 more Check My Work uses remaining Previous Next Progress: 6/8 items Assignment Score: 0.0% Email Instructor Save and Exit Submit Assignment for Grading Type here to search 12:12 PM 3/4/2018 26Explanation / Answer
Answer:
Balance sheet (Partial)
Stock Holder's Equity section
paid In capital
Share capital
Common Stock, $70 par, 90,000 shares outstanding
4,410,000
paid In capital in excess of par-common stock
1575000
paid In capital in excess of par-Treasury stock
176000
1751000
Total paid In capital
6,161,000
Retained earning
2425000
Total Treasury stock
-107000
Total Stock holder's Equity
8,479,000
Balance sheet (Partial)
Stock Holder's Equity section
paid In capital
Share capital
Common Stock, $70 par, 90,000 shares outstanding
4,410,000
paid In capital in excess of par-common stock
1575000
paid In capital in excess of par-Treasury stock
176000
1751000
Total paid In capital
6,161,000
Retained earning
2425000
Total Treasury stock
-107000
Total Stock holder's Equity
8,479,000
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