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  3. xyz corporation has the following equity accounts:

XYZ Corporation has the following equity accounts:Common stock: $1,000,000 (par value $10, 100,000 shares authorized,...

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Accounting

XYZ Corporation has the following equity accounts:

  • Common stock: $1,000,000 (par value $10, 100,000 shares authorized, 50,000 shares issued)
  • Paid-in capital in excess of par: $500,000
  • Retained earnings: $300,000
  • Treasury stock: $200,000 (5,000 shares at $40 each)
Requirements:

(a) Prepare the stockholders’ equity section of the balance sheet. (b) Calculate the total stockholders’ equity. (c) Determine the impact of a 10% stock dividend. (d) Discuss the accounting treatment of treasury stock transactions.

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