When Resisto Systems, Incorporated, was formed, the company was authorized to issue 5.000 shares of $100 par value, 8 percent cumulative preferred stock and 100,000 shares of $2 stated value common stock. Half of the preferred stock was issued at a price of $102 per share, and 87,000 shares of the common stoc were sold for $12 per share. At the end of the current year, Resisto has retained earnings of $382,000. Required: a. Prepare the stockholders' equity section of the company's balance sheet at the end of the current year.
When Resisto Systems, Incorporated, was formed, the company was authorized to issue 5.000 shares of $100 par value, 8 percent cumulative preferred stock and 100,000 shares of $2 stated value common stock. Half of the preferred stock was issued at a price of $102 per share, and 87,000 shares of the common stoc were sold for $12 per share. At the end of the current year, Resisto has retained earnings of $382,000. Required: a. Prepare the stockholders' equity section of the company's balance sheet at the end of the current year.
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter13: Earnings Per Share (eps)
Section: Chapter Questions
Problem 1R: Ponce Towers, Inc., had 50,000 shares of common stock and 10,000 shares of 100 par value, 8%...
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