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posted by  Pee Wee on 7/1/2009 4:57:48 PM  |  status: Live  |  Earned Karma: 25

Please help with Accounting Question. Thanks!

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Accounting Management Accounting & Financial Accounting : Information for Decisions N/A N/A N/A
Question Details:
You and Frank are studying for an upcoming accounting exam. Frank says, “Contributed capital is basically the stockholders’ equity of the company. It includes things like the common stock, paid-in capital in excess of par, preferred stock, and retained earnings.” Do you agree with Frank? Why or why not? Explain.
Pee-Wee
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posted by RedSox123 on 7/1/2009 10:05:13 PM  |  status: Live
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Response Details:
No.  Contributed capital is the stockholder's equity in excess of par.  Therefore, it does NOT include common stock/preferred stock at par.
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