McGraw : × H1 Home-2 × Outlines x \\ D FS2017-2 x / Homewo ezto.mheducation.com/

Question

McGraw : × H1 Home-2 × Outlines x D FS2017-2 x / Homewo ezto.mheducation.com/hm.tpx Econnect ACCOUNTING t Chapter 12 Question 5 (of 6) 5 points e following selected information is from Princeton Company's comparative balance sheets December 31 ommon stock, $10 par value aid-in capital in excess of par etained earnings S 133,000 $ 124,000 591,000 354,000 337,500 311,500 e company's net income for the year ended December 31, 2015, was $60,000 Complete the below table to calculate the cash received from the sale of its common stock during 2015 Beg bal End bal End bal Type here to search

Explanation / Answer

Common stock, $10 par Paid-in capital in excess of par Beg.bal. 124000 Beg.bal. 354000 9000 Issuance of common stock 237000 Issuance of common stock End bal. 133000 End bal. 591000 Cash received = 9000+237000= 246000

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