At the beginning of January 201X, the stockholders? equity of Country View Corporation consisted of the following:

1. Record the transactions in general journal form.

2. Prepare the stockholders? equity section at year-end using the Blueprint in this chapter as a guide.

3. Prepare a statement of retained earnings at December 31, 201X.

Accounts are provided in the working papers that accompany this text. Be sure to put in the beginning balances.

Transcribed Image Text:

Paid-In Capital: Common Stock, $18 parvalue, authorized 55,000 shares, 13,900 shares issued and outstanding $250,200 Paid-In Capital in Excess of Par Value–Common 71,000 Total Paid-In Capital by Common Stockholders $321,200 Retained Earnings 157,000 Total Stockholders' Equity $478,200