The following accounts and their balances were selected from the unadjusted trial balance of REO Inc., a
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Preferred 2% Stock, $100 par $ 750,000
Paid-In Capital in Excess of Par-Preferred Stock 90,000
Common Stock, no par, $5 stated value 400,000
Paid-In Capital in Excess of Stated Value-Common Stock 960,000
Paid-In Capital from Sale of Treasury Stock 25,000
Retained Earnings 3,150,000
Prepare the Paid-In Capital portion of the Stockholders’ Equity section of the balance sheet. There are 250,000 shares of common stock authorized and 20,000 shares of preferred stock authorized.
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
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Related Book For
Corporate Financial Accounting
ISBN: 9781337398169
15th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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