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Unformatted text preview: 600,000 shares issued $600,000 (590,000 shares outstanding) APIC Common Stock $700,000 APIC T Stock $ 20,000__ $1,320,000 Retained earnings 2,000,000_ $3 320,000 Treasury Stock at cost (40,000)__ (10,000 shares) $3,280,000 P. 765 Do the examples. Pls note the following things: Preferred stock is always listed first. 3 million dollars in the capital account are shares that are issued. Same is true of the common stock. 4 million dollars are shared, not outstanding but still issued. APIC preferred is listed before common....
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- Spring '11