Question

Pine Corporation has the following accounts at December 31: Common Stock, $9 par, 5,000 shares issued, $45,000; Paid-in Capital in Excess of Par-Common Stock $32,000; Retained Earnings $50,000; and Treasury Stock, 600 shares, $14,400. Prepare the stockholders' equity section of the balance sheet. (Enter the account name only and do not provide the descriptive information provided in the question PINE CORPORATION Balance Sheet (Partial)

Answer 1

	Balance Sheet(Partial)
	December 31
Stockholders’ equity
Paid-in Capital
Capital Stock
Common Stock	45000
Additional Paid-in Stock
Paid-in Capital in Excess of Par—Common Stock	32000
Total paid in Capital	77000
Retained Earnings	50000
Total paid in Capital and Retained Earnings	127000
Less: Treasury Stock	14400
Total Stockholders’ equity	112600