The following accounts and their balances appear in the ledger on December 31 of the current year:
$\begin{array}{ll}
\$ 400,000 & \text { CommonStock, } \$ 20 \text { par } \
44,000 & \text { Paid-In Capital in Excess of Par } \
265,000 & \text { RetainedEarnings } \
20,000 & \text { Treasuy Stock }
\end{array}$
Prepare the Stockholders' Equity section of the balance sheet as of December 31. Twenty five thousand shares of common stock are authorized, and 1,000 shares have been reacquired.

Question

The following accounts and their balances appear in the ledger on December 31 of the current year:
 $\begin{array}{ll}
\$ 400,000 & \text { CommonStock, } \$ 20 \text { par } \
44,000 & \text { Paid-In Capital in Excess of Par } \
265,000 & \text { RetainedEarnings } \
20,000 & \text { Treasuy Stock }
\end{array}$
 Prepare the Stockholders' Equity section of the balance sheet as of December 31. Twenty five thousand shares of common stock are authorized, and 1,000 shares have been reacquired.

Quizplus · Accepted Answer

The Answer of The following accounts and their balances appear in the ledger on December 31 of the current year:
 $\begin{array}{ll}
\$ 400,000 & \text { CommonStock, } \$ 20 \text { par } \
44,000 & \text { Paid-In Capital in Excess of Par } \
265,000 & \text { RetainedEarnings } \
20,000 & \text { Treasuy Stock }
\end{array}$
 Prepare the Stockholders' Equity section of the balance sheet as of December 31. Twenty five thousand shares of common stock are authorized, and 1,000 shares have been reacquired.

The Following Accounts and Their Balances Appear in the Ledger