Torretto_Excercise13_17_SAMPLE - 42,000 Preferred 2 Stock...

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Exercise 13-17 Big Boy Toy Inc. retails racing products for BMWs, Porsches, and Ferraris. The following accounts and their balances appear in the ledger of Big Boy Toys Inc. on October 31, the end of the current year: Common Stock, $4 par $600,000 Paid-In Capital in Excess of Par—Common Stock 210,000 Paid-In Capital in Excess of Par—Preferred Stock 78,000 Paid-In Capital from Sale of Treasury Stock—Common
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Unformatted text preview: 42,000 Preferred 2% Stock, $100 par 480,000 Retained Earnings 3,903,000 Treasury Stock—Common 120,000 Ten thousand shares of preferred and 250,000 shares of common stock are authorized. There are 12,000 shares of common stock held as treasury stock. Prepare the Stockholder’s Equity section of the balance sheet as of October 31, the end of the current year....
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This note was uploaded on 03/26/2012 for the course ACCOUNTING 1A,1B,1C taught by Professor Spinozzi during the Summer '10 term at DeAnza College.

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