Prepare in Proper Form the Stockholders' Equity Section of the Balance

question 86

Essay

Prepare in proper form the stockholders' equity section of the balance sheet from the following selected accounts and balances taken from the adjusted trial balance of Pathway Corporation on June 30,20xx.
$\begin{array}{c}\text { Partial Adjusted Trial Balance }\\ \begin{array}{|l|}\hline\text { Account }\\\hline\text { Common Stock- } \$ 10 \text { stated value, } 50,000 \text { shares authorized, } \\\text { 45,000 shares outstanding } \\\text { Preferred Stock- } \$ 100 \text { par value, } 8 \text { percent cumulative convertible, } \\\text { 3,000 shares authorized and outstanding } \\\text { Additional Paid-in Capital, Preferred } \\\text { Additional Paid-in Capital, Common } \\\text { Retained Earnings }\end{array} \begin{array}{r|r|}\hline\text { Debit}&\text { Credit }\\ \hline\\&450,000 \\\\&300,000 \\&15,000 \\&75,000 \\&30,000\end{array} \\\hline\end{array}$

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