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    Preparing the stockholders' equity section of balance sheet at year's end

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    The corporate charter authorizes the issuance of 20,000 shares of preferred $5 stock, $25 par, and 200,000 shares of $10 par common stock. At the end of the current year, the titles and balances of the stockholders' equity accounts are as follows:

    Common Stock $800,000
    Paid-In Capital in Excess of Par--Common Stock 250,000
    Paid-In Capital from Sale of Treasury Stock (Cr.) 10,000
    Preferred Stock 275,000
    Paid-In Capital in Excess of Par--Preferred Stock 10,000
    Retained Earnings 475,000
    Treasury Common Stock (2,000 shares at cost) 25,000

    Prepare the stockholders' equity section of the balance sheet as of the end of the current year.

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    https://brainmass.com/business/balance-sheet/stockholders-equity-section-balance-sheet-year-end-79885

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