The following accounts and balances are from the records of
The following accounts and balances are from the records of Quest Corporation on December 31, 2011:
Preferred Stock, $100 par value, 9 percent cumulative, 20,000 shares
authorized, 6,000 shares issued and outstanding.......... $600,000
Common Stock, $12 par value, 90,000 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 for Quest’s balance sheet as of December 31, 2011.

Membership TRY NOW
  • Access to 800,000+ Textbook Solutions
  • Ask any question from 24/7 available
    Tutors
  • Live Video Consultation with Tutors
  • 50,000+ Answers by Tutors
OR
Relevant Tutors available to help