what was the average selling price of each common share 551013
Preparing the stockholders’ equity section of the balance sheet
Mountainview Corporation reported the following accounts:
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|
Cost of goods sold |
$ 60,500 |
Accounts payable |
$ 6,500 |
|
Paid-in capital in excess of par |
90,000 |
Retained earnings |
18,000 |
|
Common stock, $ 3 par value, |
Unearned revenue |
5,300 |
|
|
60,000 shares issued |
180,000 |
Total assets |
? |
|
Cash |
22,500 |
Long-term note payable |
7,700 |
Requirements
1.Prepare the stockholders’ equity section of Mountainview’s balance sheet.
2.What was the average selling price of each common share?
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