accounting question

Question

Prepare the stockholders' equity section of the balance sheet at December 31. Assume the balance in retained earnings is unchanged from November 30.

 

                                                            Stockholders' equity

Paid-In Capital:

    Common Stock --$5 Par Value; 1,300 shares

       authorized, 240 shares issued and outstanding         $  1,200

    Paid-In Capital in Excess of Par--Common                      3,600

                                                                                __________

    Total Paid-In Capital                                                    4,800

Retained Earnings                                                          60,000 

Total Stockholders' equity                                           ____________

                                                                                 $  64,800

 

Answer 1

tockholders' equity
Paid-In Capital:
Common Stock --$5 Par Value; 1,300 shares
authorized, 240 shares issued and outstanding $ 1,200
Paid-In Capital in Excess of Par--Common 3,600
__________
Total Paid-In Capital 4,800
Retained Earnings 60,000
Total Stockholders' equity ____________
$ 64,800

 

Since retained earning didnt change and Paid in Capital normally doesnt change unless a stock sale of redemption happens,  effectively,given the info provided, would be a duplication of the nov balances