Use the following information to prepare the shareholders' equity section of the balance sheet for Koontz, Incorporated:
a. Common Stock-$0.30 par value: 100,000 shares authorized, 37,500 shares outstanding as of December 31, 2019
b. Retained Earnings, December 31, 2019, $108,000
c. Treasury Stock-Koontz repurchased 1,500 shares at $50 per share
d. Total Shareholders' Equity as of December 31, 2019 is $580,000

Question

Use the following information to prepare the shareholders' equity section of the balance sheet for Koontz, Incorporated: 
a. Common Stock-$0.30 par value: 100,000 shares authorized, 37,500 shares outstanding as of December 31, 2019
b. Retained Earnings, December 31, 2019, $108,000
c. Treasury Stock-Koontz repurchased 1,500 shares at $50 per share
d. Total Shareholders' Equity as of December 31, 2019 is $580,000

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The Answer of Use the following information to prepare the shareholders' equity section of the balance sheet for Koontz, Incorporated: 
a. Common Stock-$0.30 par value: 100,000 shares authorized, 37,500 shares outstanding as of December 31, 2019
b. Retained Earnings, December 31, 2019, $108,000
c. Treasury Stock-Koontz repurchased 1,500 shares at $50 per share
d. Total Shareholders' Equity as of December 31, 2019 is $580,000

Use the Following Information to Prepare the Shareholders' Equity Section