At December 31, Idaho Company had the following ending account balances:

Retained Earnings: $250,000
Preferred Stock ($100 par, 7% cumulative, 10,000 authorized, 5,000 issued and outstanding): $500,000
Treasury Stock: $40,000
Paid-In Capital in Excess of Par-Common Stock: $625,000
Paid-In Capital in Excess of Par-Preferred Stock: $50,000
Common Stock ($5 par value, 500,000 shares authorized, 105,000 issued): $525,000

Prepare the stockholders' equity section of the balance sheet in good form with all of the required disclosures.

Question

At December 31, Idaho Company had the following ending account balances:
​
Retained Earnings: $250,000
Preferred Stock ($100 par, 7% cumulative, 10,000 authorized, 5,000 issued and outstanding): $500,000
Treasury Stock: $40,000
Paid-In Capital in Excess of Par-Common Stock: $625,000
Paid-In Capital in Excess of Par-Preferred Stock: $50,000
Common Stock ($5 par value, 500,000 shares authorized, 105,000 issued): $525,000
​
Prepare the stockholders' equity section of the balance sheet in good form with all of the required disclosures.

Quizplus · Accepted Answer

The Answer of At December 31, Idaho Company had the following ending account balances:
​
Retained Earnings: $250,000
Preferred Stock ($100 par, 7% cumulative, 10,000 authorized, 5,000 issued and outstanding): $500,000
Treasury Stock: $40,000
Paid-In Capital in Excess of Par-Common Stock: $625,000
Paid-In Capital in Excess of Par-Preferred Stock: $50,000
Common Stock ($5 par value, 500,000 shares authorized, 105,000 issued): $525,000
​
Prepare the stockholders' equity section of the balance sheet in good form with all of the required disclosures.

At December 31, Idaho Company Had the Following Ending Account