Stockholders’ Equity section of balance sheet Instructions

| March 31, 2017

Question
Stockholders’ Equity section of balance sheet
Instructions
The following accounts and their balances appear in the ledger of Goodale Properties
Inc. on June 30 of the current year:

1

Common stock, $44 par; 80,000 shares authorized, 68,500 issued

2

Paid-In Capital from Sale of Treasury Stock

3

Paid-In Capital in Excess of Par-Common Stock

4

Retained Earnings

5

Treasury Stock

$3,014,000.00
127,200.00
274,000.00
22,326,300.00
299,200.00

Prepare the Stockholders’ Equity section of the balance sheet as of June 30. Eighty
thousand shares of common stock are authorized, and 8,800 shares have been
reacquired. Refer to the lists of Accounts and Amount Descriptions provided for the
exact wording of the answer choices for text entries. “Deduct” will automatically
appear if required.

Accounts and Amount Descriptions

Accounts and Amount Descriptions
Common stock dividends
Common stock, $44 par; 80,000 shares authorized,
68,500 issued
Excess of issue price over par
From sale of treasury stock
Increase in retained earnings
Preferred stock dividends
Retained earnings
Total
Total contributed capital
Total paid­in capital
Total stockholders’ equity
Treasury stock; 8,800 shares at cost

Stockholders’ Equity

Prepare the Stockholders’ Equity section of the balance sheet as of June 30. Eighty thousand shares of common stock are
authorized, and 8,800 shares have been reacquired. Refer to the lists of Accounts and Amount Descriptions provided for the exact
wording of the answer choices for text entries. “Deduct” will automatically appear if required.

Score: 53/85

Goodale Properties Inc.
Stockholders’ Equity
June 30, 20XX
1

Paid-in capital:

2

Common stock, $44 par; 80,000 shares authorized, 68,500 issued

3

From sale of treasury stock

Excess of issue price over par

4

5
6
7

Total paid-in capital
Retained earnings
Total

$3,014,000.00

8

Deduct treasury stock; 8,800 shares at cost

9

Total stockholders’ equity

Points:

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List the accounts that are considered to be paid­in capital and add their total to the retained earnings balance.

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