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Problem Solving Survival Guide to accompany Financial Accounting, 8th Edition by Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt

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EXERCISE 11-11

Purpose: (L.O. 7) This exercise will allow you to practice preparing the stockholders' equity section of a corporation's balance sheet and the accompanying note disclosures.

The following accounts appear in the ledger of Zippadeedoda, Inc. after the books are closed at December 31, 2014.

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Instructions

Prepare the stockholders' equity section of the balance sheet at December 31, 2014, assuming retained earnings is restricted for two reasons: (1) the cost of the treasury shares held, and (2) $175,000 for future plant expansion.

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