Question: The accounts and balances that follow are from Hastings Corporation s

The accounts and balances that follow are from Hastings Corporation’s records on December 31, 2014.
Preferred Stock, $100 par value, 9 percent cumulative, 10,000 shares authorized,
6,000 shares issued and outstanding ............... $600,000
Common Stock, $12 par value, 45,000 shares authorized, 30,000 shares issued,
and 28,500 shares outstanding ................. 360,000
Additional Paid-in Capital .................. 194,000
Retained Earnings ...................... 23,000
Treasury Stock, Common (1,500 shares, at cost) .......... 30,000
Prepare the stockholders’ equity section of Hastings’ balance sheet as of December 31, 2014.


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  • CreatedMarch 26, 2014
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