Question

From the following partial mixed list, select the appropriate titles and prepare a stockholders’ equity section using the source-of-capital approach as shown in the Blueprint example for Ununoctium Corporation on July 31, 201X.
Office Equipment .................... $110,000
Land ......................... 215,000
Paid-In Capital in Excess of Par Value—Preferred Stock ... 85,000
Building ........................ 70,000
Accounts Receivable ................... 135,000
Notes Receivable ................... 38,000
Organization Costs ................... 10,500
Common Stock, $8 par value (60,000 shares issued and outstanding;
85,000 shares authorized) ................. 480,000
Retained Earnings .................... 200,000
Subscriptions Receivable—Common Stock .......... 81,000
Patents ....................... 12,000
Preferred 17% Stock, $49 par value
(6,000 shares issued: 8,500 shares authorized)........ 294,000
Common Stock Subscribed at Par ............. 240,000
Paid-In Capital in Excess of Par Value—Common Stock .... 17,000



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  • CreatedApril 24, 2014
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