Use the Eastern Corporation data in Exercise to prepare the stockholders equity section of the companys balance sheet at December 31, 2011 Common stock $1 50 par value per share, 1,700 million shares issued $ 2,550 Capital in excess of par value 7,650 Retained earnings 260 Treasury stock, at cost (...

Dollars in Millions Stockholders Equity Common stock 1 ...

Use the Eastern Corporation data in Exercise to prepare the stockholders equity section of the companys balance

Question:

Use the Eastern data in Exercise to prepare the stockholders equity section of the company’s at December 31, 2011.
Common stock $1.50 per share,
1,700 million shares issued................ $ 2,550
Capital in excess of ................ 7,650
Retained earnings.................................. 260
Treasury stock, at cost.......................... (10)
Total stockholders equity................. $10,450

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...