Question

using the following accounts and balances, prepare the stockholders equity section of the balance sheet Common Stock, $50 Par-1,500,000 Paid in Capital in Excess of Par $250,00 Paid in Capital from Sales of Treasury Stock 42,000 retained Earnings 4,350,000 and Treasury Stock 155,000

Answer 1

Shareholders Equity
Paid in Capital
Common Stock $50 par	1,500,000
Excess of issue over par -common stock	250,000
Excess of issue over par - treasury stock	42,000
Total paid in capital		1,792,000
Retained Earnings		4,350,000
Total		6,142,000
Deduct treasury stock at cost		155,000
Total stockholder's equity		5,987,000