Question

Using the following accounts and balances, prepare the Stockholders’ Equity section of the balance sheet. Refer to the lists of Accounts and Amount Descriptions provided for the exact wording of the answer choices for text entries. Two hundred fifty thousand shares of common stock are authorized, and 19,800 shares have been reacquired. Common Stock, $60 par $11,400,000 Paid-In Capital from Sale of Treasury Stock 313,000 Paid-In Capital in Excess of Par—Common Stock 3,280,000 Retained Earnings 18,940,000 Treasury Stock 1,287,000

Accounts and Amount Descriptions

Common stock, $60 par (250,000 shares authorized, 182,500 shares issued)

Common stock, $60 par (250,000 shares authorized, 190,000 shares issued)

Dividends on common stock, Excess of issue price over par, From sale of treasury stock, Issuance of additional common stock, Net income, Purchase of treasury stock, Retained earnings, Total Total paid-in capital, Total stockholders’ equity, Treasury stock (19,800 shares at cost)

Answer 1

ANSWER :-

Stockholders’ Equity
Common stock, $60 par (250,000 shares authorized, 190,000 shares issued)	11,400,0000
Excess of issue price over par	3,280,000	117,2800,000
From sale of treasury stock		313,000
Total paid-in capital		1,173,113,000
Retained earnings		18,940,000
Total		1,192,053,000
Deduct: Treasury stock (17,500 shares at cost)		1,287,000
Total stockholders’ equity		1,190,766,000

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