Question

Stockholders' Equity Section of Balance Sheet

The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year:

Common Stock, $15 par	$792,000
Paid-In Capital from Sale of Treasury Stock	32,500
Paid-In Capital in Excess of Par—Common Stock	21,120
Retained Earnings	1,243,000
Treasury Stock	16,340

Prepare the Stockholders’ Equity section of the balance sheet as of June 30 using Method 1 of Exhibit 8. Eighty thousand shares of common stockare authorized, and 860 shares have been reacquired.

Goodale Properties Inc.
Stockholders' Equity
June 30, 20XX
Paid-In Capital:
	$
		$
Total Paid-In Capital		$
Total		$
Total Stockholders' Equity			$

Answer 1

Google Properties Inc.
Stockholder's Equity
June 30, 20XX
Paid in capital
Common stock 15 par (80000 shares authorized, 52800 shares issued	$               7,92,000
paid in capital in excess of par- common stock	$                   21,120	$             8,13,120
Paid in capital from sale of traesury stock		$                32,500
Total Paid in capital		$             8,45,620
Retained Earning		$          12,43,000
Total		$          20,88,620
Less: treasury stock (860 shares at cost)		$               -16,340
Total stockholder's equity			$              20,72,280