Using the following accounts and balances, prepare the Stockholders' Equity section of the balance sheet using...

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Using the following accounts and balances, prepare the Stockholders Equity section of the balance sheet using Method 1 of Ex

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Answer 1

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Stock holder's equity:

Paid in capital
Common Stock	4,200,000
Paid-In Capital in Excess of Par—Common Stock	1,120,000
Paid-In Capital from Sale of Treasury Stock	84,000
Total paid in capital		5,404,000
Retained earnings		2,394,000
Total		7,798,000
Less: Treasury Stock		-49,000
Total Stockholders' Equity		7,749,000

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Answer 2

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