Toursing Intervewe:

Ch $11$ problems $(3$

$1$

Required Information

Pan$2$ of $2$

PA$11-1($Algo$)$ Analyzing Accounting Equation Effects, Recording Journal Entries, and Preparing a Partial Balance Sheet Involving Stock Issuance and Purchase Transactions $[$LO $11-2]$

$[$The following information applies to the questions displayed below$]$

Global Marine obtained a charter from the state in January that authorized $1,000,000$ shares of common stock $$5$ par

ot$.45\mathrm{.}42$ value. During the first year, the company earned $$350,000$ of net income and declared no dividends; the following selected transactions occurred in the order given:

Stipped

a$.$ Issued $100,000$ shares of the common stock at $$50$ cash per share.

b$.$ Reacquired $20,000$ shares at $$45$ cash per share.

c$.$ Relssued $7,500$ shares from treasury for $$46$ per share.

d$.$ Relssued $7,500$ shares from treasury for $$44$ per share.

PA$11-1($Algo$)$ Port $3$

Required:

$3.$ Prepare the stockholders' equity section of the balance sheet at December $31.$

Note: Amounts to be deducted should be indicated by a minus sign.Part $2$ of $2$

Required:

$3.$ Prepare the stockholders' equity section of the balance sheet at December $31.$

$0\mathrm{.}5$ points

$01\mathrm{.}45\mathrm{.}13$

Slipped

Note: Amounts to be deducted should be Indicated by a minus sign.

$\backslash$table$[[$GLOBAL MARINE$],[$Balance Sheet $($Partial$)],[$At December $31],[$Stockholders$\text{'}$ Equity$],[$Contributed Capital:,$],[,],[,],[,],[,],[$Total Contributed Capital,$0],[,],[,],[$Total$,0],[,],[$Total Stockholders' Equity,$ $0]]$