Question

Using the following accounts and balances, prepare the Stockholders' Equity section of the balance sheet using Method 1 of Exhibit 8. 20,000 shares of common stock authorized, and 1,000 shares have been reacquired. Common Stock, $50 par $600,000 Paid-In Capital from Sale of Treasury Stock 36,000 Paid-In Capital in Excess of Par-Common Stock 216,000 Retained Earnings 282,000 Treasury Stock 16,000 Stockholders' Equity Paid-In Capital: Common Stock, $50 Par Excess over par Treasury Stock $ Total Paid-in Capital Retained Earnings Total Treasury Stock Total Stockholders' Equity U

Answer 1

Stockholders Equity
Paid in capital:
Common stock, $50 par	600,000
Paid in capital in excess of par- Common stock	216,000
Common stockholders paid in capital		816,000
Paid in capital from sale of Treasury stock		36,000
Total paid in capital		852,000
Retained earnings		282,000
Total		1,134,000
Treasury stock		-16,000
Total stockholders equity		$1,118,000

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