STOCKHOLDERS’ EQUITY SECTION After closing its books on December 31, Pro Parts’ stockholders’ equity...

Question

STOCKHOLDERS’ EQUITY SECTION After closing its books on December 31, Pro Parts’ stockholders’ equity accounts had the following balances:
Common stock subscriptions receivable……………………….$ 4,000
Common stock, $5 par, 10,000 shares…………………………..50,000
Preferred stock, $10 par, 5%, 5,000 shares……………………...50,000
Common stock subscribed, $5 par, 2,000 shares………………..10,000
Retained earnings……………………………………………….25,000
Prepare the stockholders’ equity section of the balance sheet.

David · Accepted Answer

Pro Parts’ stockholders’ equity section of the balance sheet.
Particulars Amount Amount 
         Preferred stock,  $10 par, 5%   
                Issued  5000 shares  $50,000 
           Common stock, $5  par   
              Issued 10000 shares $50,000  
          Common stock subscribed,

STOCKHOLDERS’ EQUITY SECTION After closing its books on December 31, Pro Parts’ stockholders’ equity accounts had the following balances: Common stock subscriptions receivable……………………….$ 4,000 Common...

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