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Please show me how to calculate Paid in capital in excess SV and Retained earnings.
Rainoy, Inc. was organized on June 5, 2012. It was authorized to issue 390,000 shares of $9 par common stock and 75,000 shares of 5 percent cumulative class A preferred stock. The class A stock had a stated value of $25 per share. The following stock transactions pertain to Rainoy, Inc.
1. Issued 16,000 shares of common stock for $13 per share. 2. Issued 14,000 shares of the class A preferred stock for $27 per share. 3. Issued 47,000 shares of common stock for $17 per share. Required: Prepare the stockholders' equity section of the balance sheet immediately after these transactions have been recognized These are my answers: |
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