Context Corporation reports the following components of stockholders' equity on December 31, 2011. Common stock-$15 par...

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Context Corporation reports the following components of stockholders' equity on December 31, 2011. Common stock-$15 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock $ 600,000 70,000 430,000 Retained earnings Total stockholders' equity $1,100,000 In year 2012, the following transactions affected its stockholders' equity accounts. Jan. 1 Purchased 4,000 shares of its own stock at $25 cash per share. Jan. 5 Directors declared a $2 per share cash dividend payable on Feb. 28 to the Feb. 5 stockholders of record. Feb.28 Paid the dividend declared on January 5. July 6 Sold 1,500 of its treasury shares at $29 cash per share. Aug.22 Sold 2,500 of its treasury shares at $22 cash per share. Sept. 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record. Oct.28 Paid the dividend declared on September 5. Dec. 31 19 Closed the $388,000 credit balance (from net income) in the Income Summary account to Retained Earnings. 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2012. (Omit the "$" sign in your response.) CONTEXT CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2012 Common stock Contributed capital in excess of par value, common stock Total contributed capital Retained earnings Total stockholders' equity LA 00000 SA Context Corporation reports the following components of stockholders' equity on December 31, 2011. Common stock-$15 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock $ 600,000 70,000 430,000 Retained earnings Total stockholders' equity $1,100,000 In year 2012, the following transactions affected its stockholders' equity accounts. Jan. 1 Purchased 4,000 shares of its own stock at $25 cash per share. Jan. 5 Directors declared a $2 per share cash dividend payable on Feb. 28 to the Feb. 5 stockholders of record. Feb.28 Paid the dividend declared on January 5. July 6 Sold 1,500 of its treasury shares at $29 cash per share. Aug.22 Sold 2,500 of its treasury shares at $22 cash per share. Sept. 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record. Oct.28 Paid the dividend declared on September 5. Dec. 31 19 Closed the $388,000 credit balance (from net income) in the Income Summary account to Retained Earnings. 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2012. (Omit the "$" sign in your response.) CONTEXT CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2012 Common stock Contributed capital in excess of par value, common stock Total contributed capital Retained earnings Total stockholders' equity LA 00000 SA

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Date Jan 2 Jan 5 Feb 28 Jul 6 Aug 22 Account Title Treasury ... View the full answer