Reference no: EM132107614
Question - On January 1, 2015, Wall Corporation reported the following in the stockholders' equity section of their balance sheet:
Common stock, par $8, authorized 100,000 shares, issued 30,000 shares $240,000
Capital in excess of par value $500,000
Retained earnings $300,000
During 2015, the following selected transactions occurred (assume they occurred in the order given):
4,000 shares of treasury stock were purchased at $13.00 per share.
Issued a 15% stock dividend when the market price was $14.00.
Declared and paid a cash dividend of $150,000.
Net income was $200,000.
Prepare the stockholders' equity section of the balance sheet as of December 31, 2015.
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