Question

On December 31, Westworld Inc. has the following equity accounts and ba Treasury Stock, $2,700; Paid-In Capital in Excess of
ty accounts and balances: Retained Earnings, $48,500; Common Stock, $1,700; Value, Common Stock, $39,700; Preferred Stock, $7
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Answer #1

Required: Stockholder's equity section of Westworld's balance sheet

Preferred stock $7,700
Paid-in capital in excess of par - Preferred stock $3,700
Common stock $1,700
Paid-in capital in excess of par - Common stock $39,700
Retained earnings $48,500
(-) Treasury stock ($2,700)
Total stockholder's equity $98,600
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