Preparing the Stockholders' Equity Section after Selected Transactions (AP11-3)
United Resources Company obtained a charter from the state in January 2011, which authorized 200,000 shares of common stock, $1 par value. During the first year, the company earned $475,000 and the following selected transactions occurred in the order given:
a. Sold 100,000 shares of the common stock in an initial public offering at $12 per share.
b. Repurchased 20,000 shares of the previously issued shares at $15 cash per share for treasury stock.
c. Resold 5,000 of the shares of the treasury stock at $18 cash per share.
Required:
Prepare the stockholders' equity section of the balance sheet at December 31, 2011.
We need at least 10 more requests to produce the solution.
0 / 10 have requested this problem solution
The more requests, the faster the answer.