EXERCISE 15-17 - 1,000,000 From sale of treasury stock.

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EXERCISE 15-17 (20–25 minutes) Teller Corporation Stockholders’ Equity December 31, 2010 Capital stock Preferred stock, $4 cumulative, par value $50 per share; authorized 60,000 shares, issued and outstanding 10,000 shares. ............................. $ 500,000 Common stock, par value $1 per share; authorized 600,000 shares, issued 200,000 shares, and outstanding 190,000 shares. ........... 200,000 Total capital stock . .............................................. 700,000 Additional paid-in capital— In excess of par value. ..................................................
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Unformatted text preview: 1,000,000 From sale of treasury stock. ....................................... 160,000 Total paid-in capital. ............................................ 1,860,000 Retained earnings . ..................................................................... 201,000 Total paid-in capital and retained earnings . ...................... 2,061,000 Less: Treasury stock, 10,000 shares at cost. .................... 170,000 Total stockholders’ equity. .......................................... $1,891,000...
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This note was uploaded on 01/31/2011 for the course ACCT 302 taught by Professor Leee during the Spring '10 term at Grand Rapids Community College.

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