the following account balances can be found in the general ledger of athletics suppl 541413
E8-14B. Prepare equity section of the balance sheet. (LO I, 3, 5)
The following account balances can be found in the general ledger of Athletics Supply Corporation at year-end. Prepare the shareholder’s equity section of the balance sheet
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the following account balances can be found in the general ledger of athletics suppl 541413
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Retained earnings |
$ 450,000 |
|
Treasury stock (4,000 common shares at cost) |
36,000 |
|
Common stock ($2 par, 500,000 shares authorized, |
|
|
175,000 shares issued) |
350,000 |
|
Additional paid-in capital, common stock |
2,712,500 |
|
Preferred stock ($8 par value, 8%, 90,000 shares authorized, |
|
|
20,000 shares issued) |
160,000 |
|
Additional paid-in capital, preferred stock |
50,000 |
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