Accounting
27th Edition
ISBN: 9781337272094
Author: WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher: Cengage Learning,
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Chapter 13, Problem 13.19EX
To determine
To prepare: The paid-in capital portion of the stockholders’ equity section of the balance sheet for G Properties Incorporation.
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Stockholders' Equity Section of Balance Sheet
Specialty Auto Racing Inc. retails racing products for BMWs, Porsches, and Ferraris. The following accounts and their balances appear in the ledger of Specialty Auto Racing Inc. on July 31, the end of the current year:
Common Stock, $10 par
$440,000
Paid-In Capital from Sale of Treasury Stock-Common
33,200
Paid-In Capital in Excess of Par-Common Stock
132,000
Paid-In Capital in Excess of Par-Preferred Stock
75,000
Preferred 4% Stock, $50 par
1,250,000
Retained Earnings
2,354,800
Treasury Stock-Common
47,300
Fifty thousand shares of preferred and 200,000 shares of common stock are authorized. There are 4,300 shares of common stock held as treasury stock.
Prepare the Stockholders’ Equity section of the balance sheet as of July 31, the end of the current year using Method 1 of Exhibit 8
Specialty Auto Racing IncStockholders' EquityJuly 31
Paid-In Capital:
$- Select -
- Select -
$-…
Stockholders' Equity Section of Balance Sheet
Specialty Auto Racing Inc. retails racing products for BMWs, Porsches, and Ferraris. The following accounts and their balances appear in the ledger of Specialty Auto Racing Inc. on July 31, the end of the current year:
Common Stock, $10 par
$320,000
Paid-In Capital from Sale of Treasury Stock-Common
24,100
Paid-In Capital in Excess of Par-Common Stock
96,000
Paid-In Capital in Excess of Par-Preferred Stock
89,100
Preferred 4% Stock, $50 par
1,485,000
Retained Earnings
2,457,300
Treasury Stock-Common
55,000
Fifty thousand shares of preferred and 200,000 shares of common stock are authorized. There are 5,000 shares of common stock held as treasury stock.
Prepare the Stockholders’ Equity section of the balance sheet as of July 31, the end of the current year using Method 1 of Exhibit 8
Paid in Capital:
$fill in the blank 2
fill in the blank 4
Treasury Stock (5,000 Shares at…
Stockholders' Equity Section of Balance Sheet
Specialty Auto Racing Inc. retails racing products for BMWs, Porsches, and Ferraris. The following accounts and their balances appear in the ledger of Specialty Auto Racing Inc. on July 31, the end of the current year:
Common Stock, $10 par
$340,000
Paid-In Capital from Sale of Treasury Stock-Common
25,600
Paid-In Capital in Excess of Par-Common Stock
102,000
Paid-In Capital in Excess of Par-Preferred Stock
84,900
Preferred 4% Stock, $50 par
1,415,000
Retained Earnings
2,400,400
Treasury Stock-Common
52,800
Fifty thousand shares of preferred and 200,000 shares of common stock are authorized. There are 4,800 shares of common stock held as treasury stock.
Prepare the Stockholders’ Equity section of the balance sheet as of July 31, the end of the current year using Method 1 of Exhibit 8
Specialty Auto Racing Inc
Stockholders' Equity
July 31
Paid-In Capital:
$fill in the blank 2
fill in the…
Chapter 13 Solutions
Accounting
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- "Stockholders' Equity" section of balance sheet Specialty Auto Racing Inc. retails racing products for BMWS, Porsches, and Ferraris. The following accounts and their balances appear in the ledger of Specialty Auto Racing on July 31, the end of the current year: Common Stock, $10 par $800,000 Paid-In Capital from Sale of Treasury Stock-Common 60,300 Paid-In Capital in Excess of Par-Common Stock 240,000 Paid-In Capital in Excess of Par-Preferred Stock 84,000 Preferred 4% Stock, $50 par 1,400,000 Retained Earnings 3,152,800 Treasury Stock-Common 52,800 One hundred thousand shares of preferred and 400,000 shares of common stock are authorized. There are 4,800 shares of common stock held as treasury stock. Prepare the Stockholders' Equity section of the balance sheet as of July 31, the end of the current year using Method 1 of Exhibit 9. Specialty Auto Racing Inc. Stockholders' Equity July 31, 20xx Paid-In Capital: Preferred 4% Stock, $50 Par (100,000 Shares Authorized, 28,000 Shares…arrow_forward“Stockholders’ Equity” section of balance sheet Specialty Auto Racing Inc. retails racing products for BMWs, Porsches, and Ferraris. The following accounts and their balances appear in the ledger of Specialty Auto Racing on July 31, the end of the current year: Common Stock, $10 par $420,000 Paid-In Capital from Sale of Treasury Stock-Common 31,700 Paid-In Capital in Excess of Par-Common Stock 126,000 Paid-In Capital in Excess of Par-Preferred Stock 82,500 Preferred 4% Stock, $50 par 1,375,000 Retained Earnings 2,482,900 Treasury Stock-Common 51,700 Fifty thousand shares of preferred and 200,000 shares of common stock are authorized. There are 4,700 shares of common stock held as treasury stock. Prepare the Stockholders' Equity section of the balance sheet as of July 31, the end of the current year using Method 1 of Exhibit 9. Specialty Auto Racing Inc. Stockholders' Equity July 31, 20XX Paid-In Capital: Preferred 4% Stock, $50 Par (50,000 Shares…arrow_forward"Stockholders' Equity" section of balance sheet Specialty Auto Racing Inc. retails racing products for BMWS, Porsches, and Ferraris. The following accounts and their balances appear in the ledger of Specialty Auto Racing on July 31, the end of the current year: Common Stock, $10 par $400,000 Paid-In Capital from Sale of Treasury Stock-Common Paid-In Capital in Excess of Par-Common Stock Paid-In Capital in Excess of Par-Preferred Stock 30,200 120,000 61,800 Preferred 4% Stock, $50 par 1,030,000 Retained Earnings 2,003,200 Treasury Stock-Common 38,500 Fifty thousand shares of preferred and 200,000 shares of common stock are authorized. There are 3,500 shares of common stock held as treasury stock. Prepare the Stockholders' Equity section of the balance sheet as of July 31, the end of the current year using Method 1 of Exhibit 9. Specialty Auto Racing Inc. Stockholders' Equity July 31, 20XX Paid-In Capital: Preferred 4% Stock, $50 Par (50,000 Shares Authorized, 20,600 Shares Issued)…arrow_forward
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