From the following partial mixed list, select the appropriate titles and prepare a stockholders equity section using

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

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...