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Prepare journal stockholders equity section of balance sheet

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Question - Prepare journal stockholders equity section of balance sheet as of December 31, 2016.

8% Preferred stock, $100 par value, 10,000 shares authorized, 5,000 shares issued and outstanding.

Common stock, no par, $2 stated value, 500,000 shares authorized, 204,000 shares issued and outstanding.

Additional paid-in capital:

  • Preferred stock in excess of par value is $34,000
  • Common stock in excess of stated value is $437,000.

Reference no: EM131773843

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