STOCKHOLDERS’ EQUITY SECTION After closing its books on December 31, Pro…
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STOCKHOLDERS' EQUITY SECTION After closing its books on December 31, Pro
Parts' stockholders' equity accounts had the following balances:
Common stock subscriptions receivable $ 5,000
Common stock, $5 par, 12,000 shares 60,000
Preferred stock, $10 par, 4%, 4,000 shares 40,000
Common stock subscribed, $5 par, 3,000 shares 15,000
Paid-in capital in excess of par-common stock 4,000
Retained earnings 35,000
Prepare the stockholders' equity section of the balance sheet.
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