The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year:
Line Item DescriptionAmountCommon Stock, $15 par$175,500Paid-In Capital from Sale of Treasury Stock7,600Paid-In Capital in Excess of Par—Common Stock14,040Retained Earnings290,000Treasury Stock10,925
Prepare the "Stockholders' Equity" section of the balance sheet as of June 30. Regarding the common stock, 50,000 shares are authorized, and 575 shares have been reacquired.
Goodale Properties Inc.
Stockholders' Equity
June 30, 20XXLine Item DescriptionAmountAmountAmountPaid-In Capital:
CashCommon Stock, $15 Par (50,000 Shares Authorized, 11,700 Shares Issued)From Sale of Treasury StockRetained EarningsTreasury Stock (575 Shares at Cost)
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CashCommon Stock, $15 Par (40,000 Shares Authorized, 18,000 Shares Issued)Excess of Issue Price Over ParRetained EarningsTreasury Stock (575 Shares at Cost)
- Select -
CashCommon Stock, $15 Par (40,000 Shares Authorized, 18,000 Shares Issued)Excess of Issue Price Over ParPaid-in capital, common stockTreasury Stock (575 Shares at Cost)
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CashCommon stock, $15 par (40,000 Shares Authorized, 18,000 Shares Issued)From Sale of Treasury StockRetained EarningsTreasury Stock (575 Shares at Cost)
- Select -Total Paid-In Capital$Total Paid-In Capital
Common stock, $15 par (40,000 Shares Authorized, 18,000 Shares Issued)Excess of Issue Price Over ParFrom Sale of Treasury StockRetained EarningsTreasury Stock (575 Shares at Cost)
- Select -Total$Total
CashCommon Stock, $15 Par (40,000 Shares Authorized, 18,000 Shares Issued)Excess of Issue Price Over ParRetained EarningsTreasury Stock (575 Shares at Cost)
- Select -Total Stockholders' Equity$Total Stockholders' Equity The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year:
Prepare the "Stockholders' Equity" section of the balance sheet as of June 30. Regarding the common stock, 50,000 shares are authorized, and 575 shares have been reacquired.
Goodale Properties Inc.
Stockholders' Equity
June 30, 20XX