Question

The following account balances can be found in the general ledger of Zebra Enterprises at year end. Prepare the shareholders’ equity section of the balance sheet.
Retained earnings .........................$ 650,000
Treasury stock (10,000 common shares at cost) .............85,000
Common stock ($2 par, 500,000 shares authorized, 220,000 shares issued)..440,000
Additional paid-in capital, common stock ..............1,100,000
Preferred stock ($12 par value, 8%, 75,000 shares authorized,
25,000 shares issued)........................300,000
Additional paid-in capital, preferred stock ................50,000



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  • CreatedSeptember 01, 2014
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