The following stockholders equity accounts, arranged alphabetically, are in the ledger of Eudaley Corporation at December 31, 2020.
| Common Stock ($5 stated Value) | $1,500,000 |
| Paid-in Capital in Excess of Par-Preferred Stock | 280,000 |
| Paid-in Capital in Excess of Par-Common Stock | 900,000 |
| Preferred Stock (8%, 100 par) | $500,000 |
| Retained Earnings | 1,234,000 |
| Treasury Stock (10,000 common shares) | 120,000 |
Instruction
Prepare the stockholders' equity section of the balance sheet at December 31, 2020.
Solution
Eudaley Corporation
Balance Sheet (Partial)
December 31, 2020
Balance Sheet (Partial)
December 31, 2020
