Question

Required Informetion Pen aof2 (The folowg witormation apples to the questions displayed below) Tony and Suzie have purchased land fora new camp. Now they need money to bulld the cabins, diring facity, a ropes course, and an outdoor swimming poot Tony and Suze first checked with Summit Bank to see ir they could borrow an adaitional S1 milion, but unfortunately the bank tumed them down as too nsiky Undetened, they promoted their idea to close friends they had made through the outdoor ciniKs and TEAM events. They decided to go ahead and sell shares of stock in the company to ralse the additional funds for the camp 10 points Spped Great Adventures has authorized $1 par value common stock. When the company began on July 1, 2021, Tony and Suzie each purchased 10,000 shares (20,000 shares total) of $1 par value common stock at S1 per share. The following transactions affect stockholders' equity during the remainder of 2022: oook Noveber S Issue an additional 134,000 shares of common stock for $10 per share. Novenber 16 Purchase 13,400 shares of its own common stock (1.e., treasury stock) for $32 per share. Novesber 24 Resell 7,400 shares of treasury stock at $33 per share. Declarea cash dividend on its common stock of $15,4se (50.10 per share) to all stockholders of record on Decenber 15. Decenber 1 Print Decenber 20 Pay the cash dividend declared on Decenber 1. Pay S8s, 000 for construction of new cabins and other facilities. The entire expenditure is recorded in the Buildings eccount. Decenber 31 Rferences 2 Great Adventures has net income of $41626 in 2022. Retained earnings at the beginning of 2022 was $35150. Prepare the stockholders' equity section of the balance sheet for Great Adventures as of December 31, 2022 (Amounts to be deducted should be Indiceted with a minus sign.) GREAT ADVENTURES, INC. Balance Sheet (Stockholders' Equity Section) December 31, 2022 Stockholders' equity Total paid-in capital

Answer 1

Stockholders Equity Section is as prepared below:

Great Adventures, Inc
Balance Sheet
Stockholders Equity Section
December 31, 2022
Stockholders Equity
Common Stock $1 par 154,000 shares authorized
154,000 shares issued and outstanding	154,000
Paid-in capital in excess of stated value-common stock	1,206,000
Additional paid-in capital-treasury stock	7,400
Total paid-in capital		1,367,400
Less: Treasury Stock	-665,600
Retained Earning (35,150+41,626-15,480)	61,296
Total stockholders equity		763,096