Question

On october 10, the stockholders’ equity of sherman systems appears as follows:

Answer 1

On October 10, the stockholders’ equity of Sherman systems appears as follows:

Common Stock ,$10 par value, 72,000 shares authorized, issued and outstanding = 720,000

Paid-in capital in excess of par value, common stock = 216,000

Retained earnings = 864,000

Total stockholders' equity = 1,800,000