Answer:
Goodale Properties Inc.
Balance Sheet (Portion)
As at June 30
Stockholders' Equity
Paid-in Capital - Common Stock $459,000
Paid-in Capital in excess of par - Common Stock $12,240
Retained earnings $720,000
Treasury stock $9,500
Less: Sale of Treasury stock ($18,800)
Net treasury stock ($9,300)
Net stockholders' equity $1,200,540
Explanation:
Calculation of Net stockholders' equity:
Net stockholders' equity
= Paid-in Capital + Paid-in Capital in excess of par + Retained earnings - Net treasury stock
= $459,000 + $12,240 + $720,000 - [-$9,300]
= $459,000 + $12,240 + $720,000 + $9,300
= $1,200,540
Answer:
Common Stock, $15 par $459,000
Paid-In Capital in Excess of Par—Common Stock 12,240
Paid-In Capital from Sale of Treasury Stock 18,800
Retained Earnings 720,000
Treasury Stock (9,500)
Total equity 1,200,540
Explanation:
The treasury stock decrease the equity as these represent common stock purhcased by the firm.
The paind-in capotal from sale represent the difference when selling thse treasury stock in favor of the company
