Question

The following accounts and their balances appear in the ledger of Cline Properties Inc. on April 30 of the current year:

Common Stock, $90 par...................$2,700,000
Paid-In Capital in Excess of par............... 120,000
Paid-In Capital from Sale of Treasury Stock.......... 36,000
Retained Earnings.................... 9,173,000
Treasury Stock..................... 352,000

Prepare the Stockholders’ Equity section of the balance sheet as of April 30, Fifty thousand shares of common stock are authorized, and 4,000 shares have been reacquired.



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  • CreatedOctober 14, 2011
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