The following information is from Princeton Company's comparative balance sheets. At December 31 Common stock, $10...

 

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The following information is from Princeton Company's comparative balance sheets. At December 31 Common stock, $10 par value Current Year $ 137,000 Paid-in capital in excess of par Retained earnings 597,000 343,500 Prior Year $ 130,000 357,000 317,500 The company's net income for the current year ended December 31 was $63,000. 1. Complete the T-accounts to calculate the cash received from the sale of its common stock during the current year. Common Stock, $10 Par Beginning balance Issuance of common stock Ending balance 0 Paid-in Capital in Excess of Par Beginning balance Issuance of common stock Ending balance Cash received 0 Assessment Tool iFrame < Prev 4 of 7 Next > The following information is from Princeton Company's comparative balance sheets. At December 31 Common stock, $10 par value Current Year $ 137,000 Paid-in capital in excess of par Retained earnings 597,000 343,500 Prior Year $ 130,000 357,000 317,500 The company's net income for the current year ended December 31 was $63,000. 1. Complete the T-accounts to calculate the cash received from the sale of its common stock during the current year. Common Stock, $10 Par Beginning balance Issuance of common stock Ending balance 0 Paid-in Capital in Excess of Par Beginning balance Issuance of common stock Ending balance Cash received 0 Assessment Tool iFrame < Prev 4 of 7 Next >