Reporting The owners\' equity in a corporation.Stockholders\' Equity Using the f

Question

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. 100,000 shares of The stock outstanding when a corporation has issued only one class of stock.common stock authorized, and 2,000 shares have been reacquired.

Stockholders' Equity

Paid-In Capital:

__________      _____

__________    ______

__________                   ______

__________                  _______

Total Paid-in Capital        ______

_________                     _______

Total                               ______

____________               ______

Total Stockholders' Equity    ________

Common Stock, $50 par $3,000,000 Paid-In Capital from Sale of Treasury Stock 150,000 Paid-In Capital in Excess of Par—Common Stock 780,000 Retained Earnings 1,650,000 Treasury Stock 74,000

Explanation / Answer

Prepare stockholder's equity :

Stockholder's equity Paid in capital Common stock 3000000 Paid-In Capital in Excess of Par—Common Stock 780000 Total Contributed capital 3780000 Paid-In Capital from Sale of Treasury Stock 150000 Total paid in capital 3930000 Retained earnings 1650000 Total 5580000 Less; Treasury stock (74000) Total stockholder's equity 5506000

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