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14 July, 04:04

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 $219,000 Paid-In Capital from Sale of Treasury Stock 9,500 Paid-In Capital in Excess of Par-Common Stock 17,520 Retained Earnings 362,000 Treasury Stock 13,585 Prepare the "Stockholders' Equity" section of the balance sheet as of June 30. Fifty thousand shares of common stock are authorized, and 715 shares have been reacquired.

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  1. 14 July, 06:52
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    Total stockholders' equity $ 594,435

    Explanation:

    Goodale Properties Inc.

    Stockholders' Equity

    June 30

    Common stock at $15 par $219,000

    Paid in capital in excess of par-Common stock $17,520

    Paid in capital from sale of treasury stock$9,500

    Total paid in capital $246,020

    Add: Retained earnings $362,000

    Total $608,020

    Less: Treasury stock $ 13,585

    Total stockholders' equity $ 594,435
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