Preparing stockholders equity section of the balance sheet

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Reference no: EM132089171

Question: At December 31, Idaho Company had the following ending account balances:

Retained Earnings: $250,000

Preferred Stock ($100 par, 7% cumulative, 10,000 authorized, 5,000 issued and outstanding): $500,000

Treasury Stock: $40,000

PaidIn Capital in Excess of Par-Common Stock: $625,000

PaidIn Capital in Excess of Par-Preferred Stock: $50,000

Common Stock ($5 par value, 500,000 shares authorized, 105,000 issued): $525,000

Prepare the stockholders' equity section of the balance sheet in good form with all of the required disclosures.

Reference no: EM132089171

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