The Following Accounts and Their Balances Appear in the Ledger

question 66

Essay

The following accounts and their balances appear in the ledger on December 31 of the current year:
? $$\begin{array} { l r } \text { Common Stock, } \$ 20 \text { par } & \$ 400,000 \\\text { Paid-In Capital in Excess of Par } & 44,000 \\\text { Retained Earnings } & 265,000 \\\text { Treasury Stock } & 20,000\end{array}$$ ?
Prepare the Stockholders' Equity section of the balance sheet as of December 31.Twenty five thousand shares of common stock are authorized, and 1,000 shares have been reacquired.

---

Definitions:

Productivity

The measure of how efficiently production inputs, such as labor and capital, are converted into outputs, or goods and services.

Turnover

Refers to people leaving their jobs, whether voluntarily or involuntarily (i.e., through firings).

Absenteeism

The habitual non-presence of an employee at their job, which can include both justified absences, such as illness, and unjustified absences.

Glass Ceiling

The glass ceiling is a metaphorical barrier that prevents minorities and women from rising to upper levels of management or leadership in a corporation, despite their qualifications or achievements.