The following accounts and their balances appear in the ledger of Goodale Properties Inc. on...
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Accounting
The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year:
| Common Stock, $15 par | $193,500 |
| Paid-In Capital in Excess of Par | 15,480 |
| Paid-In Capital from Sale of Treasury Stock | 8,400 |
| Retained Earnings | 320,000 |
| Treasury Stock | 11,970 |
Prepare the Stockholders' Equity section of the balance sheet as of June 30. Fifty thousand shares of common stock are authorized, and 630 shares have been reacquired.
| Goodale Properties Inc. | |||
| Stockholders' Equity | |||
| June 30, 20XX | |||
| Paid-In Capital: | |||
| Common Stock, $15 Par (50,000 Shares Authorized, 12,900 Shares Issued) | $ | ||
| Excess of Issue Price Over Par | |||
| Paid-in capital, common stock | $ | ||
| From Sale of Treasury Stock | |||
| Total Paid-In Capital | $ | ||
| Retained Earnings | |||
| Total | $ | ||
| Treasury Stock (630 Shares at Cost) | |||
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