The financial statements of Wellman Employment Services, Inc., reported the following accounts (adapted, with dollar amounts in

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The financial statements of Wellman Employment Services, Inc., reported the following accounts (adapted, with dollar amounts in thousands except for par value):
Paid-in capital in excess of par...........................................$192
Other stockholders' equity (negative)....................................(22)
Common stock, $0.01 par, 300,000 shares issued.........................3
Long-term debt...............................................................24
Total revenues............................................................$1,390
Accounts payable...........................................................470
Retained earnings...........................................................648
Other current liabilities...................................................2,568
Total expenses...............................................................556
Prepare the stockholders' equity section of Wellman's balance sheet. Net income has already been closed to Retained Earnings.
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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Financial Accounting

ISBN: 978-0134127620

11th edition

Authors: Walter Harrison, Charles Horngren, William Thomas, Wendy Tietz

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