14 the following selected information is available for lindale corp as of december 3 4306099

14 the following selected information is available for lindale corp as of december 3 4306099

14) The following selected information is available for Lindale Corp., as of December 31, 2X13:

Additional Paid-in Capital, Common $1,050,000

Additional Paid-in Capital, Preferred 150,000

Common Stock, $1 par, 1,000,000 shares authorized,

480,000 shares issued ?

Dividends Payable 280,000

Long-term Investment in the Broomfield Company 400,000

Marketable Securities 60,000

Retained Earnings 1,800,000

Treasury Stock, Common, 20,000 shares 500,000

10% Cumulative Preferred Stock, $25 par, callable

at $28; 200,000 shares authorized, 100,000

shares issued and outstanding ?

Given the above information, prepare the stockholders' equity section of the Lindale Corp.'s balance sheet dated December 31, 2X13.

15) On August 10, 20X9, Steel Wool, Inc., reacquired 1,000 shares of its own $3 par value common stock at $28 per share. These shares were not permanently retired. On November 3, 20X9, the company sold 600 of the treasury shares for $26 per share. On December 15, 20X9, the company sold the remaining 400 shares for $32 per share. Prepare journal entries for Steel Wool, Inc., for August 10, November 3, and December 15.

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