Question

Reporting Stockholders' Equity Using the following accounts and balances, prepare the "Stockholders' Equity" section of the balance sheet. Five hundred thousand shares of comm stock are authorized, and 40,000 shares have been reacquired. Common Stock, $120 par $48,000,000 Pald-In Capital from Sale of Treasury Stock 4,500,000 Paid-In Capital in Excess of Par-Common Stock 6,400,000 Retained Earnings 63,680,000 Treasury Stock 5,200,000 Balance Sheet Stockholders' Equity Pald-in capital: Common Stock, $120 Par (500,000 Shares Authorized, 400,000 Shares Issued) 48,000,000 Excess of Issue Price Over Par 6400,000 4,500,000 X Pald-in capital, common stock From Sale of Treasury Stock Total paid-in capital Retained Earnings 10,900,000 X 63,680,000 X 122.580,000 X Total 5.200,000 X Treasury Stock (40,000 Shares at Cost) ✓ ох Total stockholders' equity 117,380,000

Answer 1

Balance sheet

Stockholder's equity
Paid in capital
Common Stock, $120 par (500000 shares authorized, 400000 Shares issued)	48000000
Excess of issue price over par	6400000
Paid in capital,Common Stock		54400000
From sale of treasury Stock		4500000
Total paid in capital		58900000
Retained earnings		63680000
Total		122580000
Treasury Stock (40000 Shares at cost)		-5200000
Total Stockholder's equity		117380000