List the errors in the following Stockholders Equity section of the balance sheet prepared as of the end of the currentyear Stockholders' Equity Paid in capital Preferred 2 stock, cumulative, $50 par 906,000 105,000 140,000 $1,725,000 Common stock, $20 par (100,000 shares 1,789,200 100,000 $3,614,2...

1 Retained earnings is not part of paidin capital 2 The cost of treasury stock should be deducted fr ...

List the errors in the following Stockholders Equity section of the balance sheet prepared as of the

Question:

List the errors in the following Stockholdersâ€™ Equity section of the balance sheet prepared as of the end of the currentyear.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...