The following accounts appear in the ledger of Paisan Inc. after the books are closed at December
Question:
The following accounts appear in the ledger of Paisan Inc. after the books are closed at December 31, 2022.
Instructions
Prepare the stockholders’ equity section at December 31, assuming $100,000 of retained earnings is restricted for plant expansion.
Transcribed Image Text:
Common Stock (no-par, $1 stated value, 400,000 shares authorized, 250,000 shares issued) Paid-in Capital in Excess of Stated Value-Common Stock Preferred Stock ($50 par value, 8%, 40,000 shares authorized, 14,000 shares issued) Retained Earnings Treasury Stock (9,000 common shares) Paid-in Capital in Excess of Par Value-Preferred Stock Accumulated Other Comprehensive Loss 1,200,000 700,000 920,000 24,000 31,000
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PAISAN INC Partial Balance Sheet December 31 2022 Stockholders equity Paidin capital Capital stock 8 ...View the full answer
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Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1119493631
9th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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