Question

Stockholders' Equity section of balance sheet Instructions Accounts 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. $3,073,800.00 Common stock, $47 par Paid-In Capital from Sale of Treasury Stock Paid-In Capital in Excess of Par-Common Stock 119,000.00 3 261,600.00 Retained Earnings 19,185,100.00 5 Treasury Stock 326,800.00 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 8,600 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 in which you must enter subtractive or negative numbers use a minus sign

Answer 1

Stockholders Equity Section
Common stock, $47 par, 80,000 shares authorized, 65,400 issued	3,073,800
Excess over par	261,600
Paid in capital, common stock	3,335,400
From sale of treasury stock	119,000
Total paid in capital	3,454,400
Retained earnings	19,185,100
Total	22,639,500
Treasury stock, 8,600 shares at cost	-326,800
Total Stockholders Equity	$22,312,700

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