Reference no: EM132938287
The following are selected accounts and balances from the records of Furry Corporation on June 30, 2007.
Common Stock, $10 par value, 75,000 shares authorized, 50,000 shares issued $500,000
Paid-in Capital in Excess of Par Value-Common Stock 150,000
Preferred Stock, $100 par value, 8%, 3,000 shares authorized and issued 300,000
Retained Earnings 250,000
Treasury Stock (10,000 common shares) 150,000
Paid-in Capital in Excess of Par Value-Preferred Stock 30,000
Instructions
Problem 1: Make in proper form the stockholders' equity section of the balance sheet
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