Question

The following stockholders’ equity accounts arranged alphabetically are in the ledger of Galindo Corporation at December 31, 2014.
Common Stock ($5 stated value) ............. $2,000,000
Paid-in Capital from Treasury Stock ........... 10,000
Paid-in Capital in Excess of Par—Preferred Stock ....... 679,000
Paid-in Capital in Excess of Stated Value—Common Stock ... 1,600,000
Preferred Stock (8%, $50 par, noncumulative) ....... 800,000
Retained Earnings .................. 1,748,000
Treasury Stock (10,000 common shares) ......... 130,000

Instructions
Prepare a stockholders’ equity section at December 31, 2014.



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  • CreatedJanuary 30, 2014
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