Question

Using the following accounts and balances, prepare the stockholders’ equity section of the balance sheet. Fifty thousand shares of common stock are authorized, and 5,000 shares have been reacquired. Refer to the lists of Amount Descriptions provided for the exact wording of the answer choices for text entries. “Deduct” will automatically appear if required.

1	Common Stock, $50 par	$1,700,000.00
2	Paid-In Capital in Excess of Par	102,000.00
3	Paid-In Capital from Sale of Treasury Stock	6,050.00
4	Retained Earnings	119,000.00
5	Treasury Stock	4,550.00

Prepare the stockholders’ equity section of the balance sheet. Fifty thousand shares of common stock are authorized, and 5,000 shares have been reacquired. Refer to the lists of Amount Descriptions provided for the exact wording of the answer choices for text entries. “Deduct” will automatically appear if required.

Stockholders’ Equity

1	Paid-in capital:
2
3
4
5
6
7
8
9

Answer 1

Shareholder Equity Statement
Common Stock, $50 par, 50,000 shares authorized,
300,000 shares issued	$17,00,000.00
Paid-In Capital in Excess of Par	$1,02,000.00
Paid in Capital from Sale of Treasury Stock	$6,050.00
Retained Earnings	$1,19,000.00
Less: Treasury Stock, 5,000 shares	-$4,550.00
Total stockholders' equity	$19,22,500.00