STOCKHOLDERS EQUITY SECTION After closing its books on December 31, Pro Parts stockholders equity accounts had the
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STOCKHOLDERS’ EQUITY SECTION After closing its books on December 31, Pro Parts’ stockholders’ equity accounts had the following balances:
Common stock subscriptions receivable……………………….$ 4,000
Common stock, $5 par, 10,000 shares…………………………..50,000
Preferred stock, $10 par, 5%, 5,000 shares……………………...50,000
Common stock subscribed, $5 par, 2,000 shares………………..10,000
Retained earnings……………………………………………….25,000
Prepare the stockholders’ equity section of the balance sheet.
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