The Accounts from the Stockholders' Equity Section of the Balance

question 27

Essay

The accounts from the stockholders' equity section of the balance sheet of Western Company showed the following at December 31, 2010:

Western issued 475,000 shares of the $1 par value common stock on January 1, 2010.
The company also is authorized to issue 500,000 shares of $5 par value, 6% preferred stock.
During 2011, Western had the following transactions:

Prepare a statement of changes in stockholders' equity for 2011 using the information given above.

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Definitions:

American Freedom

The set of values, principles, and practices that define the liberties and rights pursued and protected in the United States, including freedom of speech, religion, and the pursuit of happiness.

Alger Hiss

A former U.S. government official who was accused of being a Soviet spy in 1948 and convicted of perjury in connection with this charge.

Julius Rosenberg

An American who, along with his wife Ethel, was convicted of espionage for the Soviet Union and executed in 1953, in a case that remains controversial.

Ethel Rosenberg

An American woman who, with her husband Julius Rosenberg, was convicted of espionage for allegedly passing atomic secrets to the Soviet Union during the Cold War.