Question

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.

Answer 1

Answer:

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