Question

Prepare the Stockholders’ Equity section of the balance sheet from the following account balances:
Retained Earnings ..................... $ 143,000
Common Stock, $ 40 par (30,000 shares authorized,
10,000 shares issued) .................. 400,000
Preferred 10 Percent Stock, $ 50 par (2,000 shares authorized,
500 shares issued) .................... 25,000
Paid- in Capital in Excess of Par Value (for Common Stock) .... 40,000
Preferred 10 Percent Stock Subscribed (400 shares) ....... 20,000



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  • CreatedOctober 21, 2014
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