Stockholders' equity section of the balance sheet
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The corporate charter authorizes the issuance if 108,000 shares of preferred stock at $ 50 par, and 1,920,000 shares of $4 par common stock. At the end of the current year, the titles and balances of the stockholders' equity accounts are as follows:
Common Stock $3840000
Paid-in capital excess of par-common stock 4800000
common stock dividends distributable 102000
preferred stock 996000
paid-in capital in excess of Par-preferred stock 744000
retained earnings 4500000
treasury common stock (26,000 shares at cost) 124800
Required
Prepare the stockholders' equity section of the balance sheet for the San Jose Co. as of December 31, 2010. Use good form. (be sure to calculate and disclose the number of shares authorized, issued, and outstanding. Also include a proper heading.)
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Solution Summary
The solution prepares stockholders' equity section of the balance sheet for San Jose Co.
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