"Stockholders" Equity" section of belance sheet Specidiy Auto Racing Inc- retals racing products for BNWs,...
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"Stockholders" Equity" section of belance sheet Specidiy Auto Racing Inc- retals racing products for BNWs, Porsches, and Ferraris. The following accounes and their balances appear in the ledger of 5pecialy Auto Racing on July 31 , the end of the current year: One hundred thousand ahares of preferred and 400,000 Mheres of comicon stack are authorited. There are 4,900 shares of comman atock heid as-treasury itoch. Prepare the Stockholders' Equity section of the balance sheet as of July 31, the end of the current vear uning Method 1 of Exhibit a. Specialty Auto Racing Inc. Stockholders' Equity July 31,20xX Paid-In Capital: Ireasury Stock (4,900 Shares at Cost) Cash Treasury Stock (4,900 Shares at Cost ) Treasury Stock (4,900 Shares at Cost ) Cash Preferred 4\% Stock, 550 Par (100,000 Shares Authonzed, 29,000 Shares Issued) Total Paid-In Capital Excess of issue Price Over Par Total Retained Earning5 Total Stockholders' Equity
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