The following accounts and their balances appear in the ledger of Goodale Proper
ID: 2426743 • Letter: T
Question
The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year:
Question not attempted.
1
Common stock, $45 par; 80,000 shares authorized, 69,800 issued
$3,141,000.00
2
Paid-In Capital from Sale of Treasury Stock
122,400.00
3
Paid-In Capital in Excess of Par-Common Stock
279,200.00
4
Retained Earnings
20,530,300.00
5
Treasury Stock
332,500.00
In CengageNOW, an Amount Description is a text entry other than an Account that has an amount associated with it.
Treasury stock; 9,500 shares at cost
Goodale Properties Inc.
Stockholders’ Equity
June 30, 20XX
1
Paid-in capital:
2
3
4
5
6
7
8
9
Solution
Goodale Properties Inc.
Stockholders’ Equity
June 30, 20XX
1
Paid-in capital:
2
3
4
5
6
7
8
9
1
Common stock, $45 par; 80,000 shares authorized, 69,800 issued
$3,141,000.00
2
Paid-In Capital from Sale of Treasury Stock
122,400.00
3
Paid-In Capital in Excess of Par-Common Stock
279,200.00
4
Retained Earnings
20,530,300.00
5
Treasury Stock
332,500.00
Accounts and Amount DescriptionsIn CengageNOW, an Amount Description is a text entry other than an Account that has an amount associated with it.
Common stock dividends Common stock, $45 par; 80,000 shares authorized, 69,800 issued Excess of issue price over par From sale of treasury stock Increase in retained earnings Preferred stock dividends Retained earnings Total Total contributed capital Total paid-in capital Total stockholders’ equityTreasury stock; 9,500 shares at cost
Goodale Properties Inc.
Stockholders’ Equity
June 30, 20XX
1
Paid-in capital:
2
3
4
5
6
7
8
9
Solution
Goodale Properties Inc.
Stockholders’ Equity
June 30, 20XX
1
Paid-in capital:
2
3
4
5
6
7
8
9
Explanation / Answer
Goodale Properties Inc.Stockholders’ Equity for June 30, 20XX