Problem:
See the data below for Alyssa Corporation as of 12/31/08:
Treasury stock, common (at cost) $4,000,000
Additional paid-in capital, common 9,000,000
Dividends payable 100,000
Retained income 12,000,000
Additional paid-in capital, preferred 2,000,000
Common stock, $2.50 par value, 1.8 million shares authorized, 1.2 million shares
issued of which 60,000 are held in the treasury 3,000,000
6% cumulative preferred stock, $40 par value callable at $42, authorized 100,000 shares,
issued and outstanding 100,000 shares 4,000,000
Prepare the stockholders' equity section of the balance sheet as of 12/31/08.
Summary of question:
This question basically belongs to Accounting as well as it explains about preparing stockholders' equity in the balance sheet with the details given in the question. Stockholders' equity has been calculated in the solution.