Sunshine Corp. was organized on Jan. 1 with authorization of 20,000 shares of $5 preferred stock, $100 par, and 200,000 shares of $25 par common stock.  Indicate the account that should be recorded in the Description column of the Journal item (1) as the debit account and the dollar amount in the amount columns assuming that Sunshine Corp on Jan . 15  received cash for the issuance of 2,000 shares of preferred stock at par value.                                                     JOURNAL

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Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.