Shareholders’ equity section - Financial Statements: Shareholders by ClassOf1

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									              Sub: Finance                                                               Topic: Financial Statements

              Question:
               Shareholders’ equity section accounting and reporting

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              Klein Corporation's stockholders' equity section at December 31,

              2001 appears below: (20 Points)

                Stockholders' equity

                 Paid-in capital

                 Common stock, $10 par, 50,000 outstanding $500,000

                 Paid-in capital in excess of par                150,000

                                                            ————————

                 Total paid-in capital                           $650,000

                 Retained earnings                               150,000

                                                            ————————

                 Total stockholders' equity                      $800,000



                 On June 30, 2002, the board of directors of Klein Corporation

                 declared a 15% stock dividend, payable on July 31, 2002, to

                 stockholders of record on July 15, 2002. The fair market value of

                 Klein Corporation's stock on June 30, 2002, was $12.



                 On December 1
								
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