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.

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