Problem 11-2A
The stockholders’ equity accounts of Miley Corporation on January 1, 2014, were as follows.
Preferred Stock( 7 %, $ 100 par noncumulative, 4,100 shares authorized)
$ 246,000
Common Stock($ 3 stated value, 338,600 shares authorized)
812,640
Paid-in Capital in Excess of Par Value— Preferred Stock
12,300
Paid-in Capital in Excess of Stated Value— Common Stock
270,880