Pine Corporation has the following accounts at December 31: Common Stock, $10 par, 5,000 shares issued, $50,000; Paid-in Capital in Excess of Par—Common Stock $30,000; Retained Earnings $45,000; and Treasury Stock, 500 shares, $11,000. Prepare the stockholders’ equity section of the balance sheet.
Answer to relevant QuestionsAt the end of its first year of operation, Goss Corporation has $1,000,000 of common stock and net income of $236,000. Prepare (a) The closing entry for net income (b) The stockholders’ equity section at year-end.Andrea (see E13-1) has studied the information you gave her in that exercise and has come to you with more statements about corporations.1. Corporation management is both an advantage and a disadvantage of a corporation ...Tran Corporation is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year of operations, the company had the following events and transactions pertaining to its ...Fechter Corporation had the following stockholders’ equity accounts on January 1, 2014: Common Stock ($5 par) $500,000, Paid-in Capital in Excess of Par—Common Stock $200,000, and Retained Earnings $100,000. In 2014, the ...The following stockholders’ equity accounts arranged alphabetically are in the ledger of Alpers Corporation at December 31, 2014.Common Stock ($10 stated value) .............. $1,200,000Paid-in Capital from Treasury Stock ...
Post your question