Question

Stockholders' Equity Prepare the stockholders' equity section of a balance sheet The financial statements of Ridgeline Employment Services, Inc., reported the following accounts $1,600,000 100,000 660,000 200,000 1,000,000 Paid-in capital in excess of par $334,000 Total revenue:s Notes payable (short-term) Common stock, $0.01 par 600,000 shares issued Long-term debt 50,000 Accounts payable 6,000 Retained earnings Other current liabilities 25,000 Total expenses Use the blue shaded areas on the ENTERANSWERS tab for inputs Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong Requirement Prepare the stockholders' equity section of Ridgeline's balance sheet. Net income has already been closed to Retained Earnings Check your spelling carefully and do not abbreviate For reporting purposes, ignore authorized shares a. b.

Answer 1

Solution:

Stockholder's equity:	Amount
Common stock	$6,000.00
Paid in capital in excess of par	$334,000.00
Total paid in capital	$340,000.00
Retained Earnings	$660,000.00
Stockholder's Equity	$1,000,000.00