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Preparation of stockholders' equity section The following data relate to LeMaster Corporat

Preparation of stockholders' equity section The following data relate to LeMaster Corporat

Preparation of stockholders' equity section
The following data relate to LeMaster Corporation as of December 31, 20XX, the close of the current accounting period:

  • Preferred stock—The company has 1,000 shares of $50 par-value cumulative preferred stock authorized. The stock pays a 10% dividend; to date, 400 shares have been issued at $55 per share.
  • Common stock—A total of 25,000 shares of $1 stated-value common stock is authorized. To date, 10,000 shares have been issued at $10 per share, and an additional 3,000 shares have been subscribed to at $15 per share.

Assuming a retained earnings balance of $177,000, prepare the stockholders' equity section of LeMaster's December 31, 20XX balance sheet.

YOUR ANSWERS BASED UPON COURSE START DATE
Cost of goods manufactured
Beginning work in process  
Manufacturing costs  
Ending work in process  
Cost of goods manufactured  
Cost of goods sold
Beginning finished goods  
Cost of goods manufactured  
Ending finished goods  
Cost of goods sold  
Net income
Sales  
Cost of goods sold  
Operating expenses  
Net income
Roshan kumar 08-Nov-2017

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