the following accounts appear in the ledger of sather inc after the books are closed 535286
The following accounts appear in the ledger of Sather Inc. after the books are closed at December 31, 2012.
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the following accounts appear in the ledger of sather inc after the books are closed 535286
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Common Stock (no-par, $1 stated value, 400,000 shares |
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authorized, 250,000 shares issued) |
$ 250,000 |
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Paid-in Capital in Excess of Stated Value—Common Stock |
1,200,000 |
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Preferred Stock ($50 par value, 8%, 40,000 shares authorized, |
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14,000 shares issued) |
700,000 |
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Retained Earnings |
920,000 |
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Treasury Stock (9,000 common shares) |
64,000 |
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Paid-in Capital in Excess of Par Value—Preferred Stock |
24,000 |
Instructions
Prepare the stockholders” equity section at December 31, assuming $100,000 of retained earnings is restricted for plant expansion. (Use Note R.)
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