Brief Exercise 118 Blue Spruce Corp has these accounts at De

Brief Exercise 11-8 Blue Spruce Corp. has these accounts at December 31: Common Stock, $10 par, 6,800 shares issued, $68,000; Paid-in Capital in Excess of Par Value $20,300; Retained Earnings $45,300; and Treasury Stock, 630 shares, $13,860 Prepare the stockholders\' equity section of the balance sheet. Blue Spruce Corp. Balance Sheet (Partial) December 31

Solution

Stockholders\' equity Paid-in capital Capital Stock Common stock, $10 par value, 6,800 shares issued and 6,800 - 630 = 6,170 shares outstanding $68,000 Additional paid-in capital In excess of par value-common stock 20,300 Total paid-capital 88,300 Retained earnings 45,300 Total paid-in capital and retained earnings 1,33,600 Less: Treasury stock - common 630 ( shares) 13,860 Total stockholders\' equity $119,740