Homework Answers
| STOCKHOLDER'S EQUITY SECTION | |
| AMOUNT | |
| Paid in Capital | |
| Common Stock | $4,80,00,000 |
| Paid in capital in excess of par - Common Stock | $64,00,000 |
| Paid in capital from sale of Treasury stock | $45,00,000 |
| Total Paid in Capital | $5,89,00,000 |
| Retained Earnings | $6,96,80,000 |
| Subtotal | $12,85,80,000 |
| Less : Treasury Stock | -$52,00,000 |
| Total Stockholder's Equity | $12,33,80,000 |
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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...
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