Question

on of balance sheet ats and Amount Descriptions Stockholders' Equity Instructions The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year: 1 Common stock, $44 par $2,864,400.00 2 Paid-In Capital from Sale of Treasury Stock 114,300.00 3 Paid-In Capital in Excess of Par-Common Stock 260,400.00 4 Retained Earnings 18,780,100.00 5 Treasury Stock 304,500.00 vitys have sin Prepare the stockholders' Equity section of the balance sheet as of June 30 using Method 1 of Exhibit 8. Eighty thousand shares of common stock are authorized, and 8,700 shares have been reacquired. Refer to the lists of Accounts and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes which you must enter subtractive or negative numbers a minus sign

Answer 1

Stockholders' Equity Paid - in Capital Common Stock, $44 Par (80,000 Shares Authorized, 65,100 Shares Issued) $2,864,400.00 Excess of Issue Price Over Par $ 260,400.00 $ 3,124,800.00 From Sale of Treasury Stock $ 114,300.00 Total Paid-in Capital $ 3,239,100.00 Retained Earnings $18,780,100.00 Total $ 22,019,200.00 Deduct: Treasury Stock (8,700 shares at cost) $ 304,500.00 Total Stockholders' Equity $21,714,700.00 No of shares issued = $2,864,400/$44 = 65,100