Fundamental question on accounting for corporations.
Boswell Corporation has the following stockholders' equity accounts:
Preferred Stock
Paid-in Capital in Excess of Par Value-Preferred Stock
Common Stock
Paid-in Capital in Excess of Stated Value-Common Stock
Paid-in Capital from Treasury Stock-Common
Retained Earnings
Treasury Stock-Common
Instructions
Classify each account using the following tabular alignment.
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Paid in capital
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Retained
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Capital Stock
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Additional
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Earnings
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Others
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1
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Preferred Stock
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2
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Paid in capital in excess of par value-
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Preferred Stock
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3
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Common Stock
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4
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Paid in capital in excess of par value-
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Common Stock
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5
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paid in capital from
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treasury stock- Common
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6
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Retained Earnings
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7
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Treasury Stock- Common
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