Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

help me please:) tne cart has 9 parts it cut off at 6. Book Calculator Print Item Reporting paid-in capital Instructions Amount Descriptions Stockholders' Equity

help me please:) tne cart has 9 parts it cut off at 6.
image text in transcribed
image text in transcribed
image text in transcribed
Book Calculator Print Item Reporting paid-in capital Instructions Amount Descriptions Stockholders' Equity Instructions The following accounts and their balances were selected from the unadjusted trial balance of Point Loma Group Inc., a freight forwarder, at October 31, the end of the current fiscal year: 1 Common Stock, no par, $10 stated value $3,330,000.00 Paid-In Capital from Sale of Treasury Stock 44,400.00 Paid-In Capital in Excess of Par-Preferred Stock 226,000.00 459,500.00 Paid-In Capital in Excess of Stated Value-Common Stock 5 Preferred 2% Stock $120 par 9,480,000.00 6 Retained Earnings 39,660,000.00 Prepare the Paid-In Capital portion of the stockholders equiry section of the balance sheet using Method 1 of Exhibit 8. There are 375,000 shares of common stock authorized and 85,000 shares of preferred stock authorized. Refer to the Amount Descriptions list provided for the exact wording of the Amount Descriptions Amount Descriptions Common stock dividends Common stock, no par, $10 stated value; 375,000 shares authorized, 333,000 shares issued Excess over par From sale of treasury stock Increase in retained earnings Preferred stock dividends Paid-in capital, preferred stock Paid-in capital, common stock Preferred 2% stock, $120 par; 85,000 shares authorized, 79,000 shares issued Total paid-in capital UWUdgers Equity Prepare the Paid-In Capital portion of the stockholders'equily section of the balance sheet using Method 1 of Exhibit 8. There are 375,000 shares of common stock authorized and 85,000 shares of preferred stock authorized. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Point Loma Group Inc Stockholders' Equity (Paid-In Capital Section) October 31, 20XX Pald-in capital: Pandous Next Charl My work on Chedd i n

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing An Assertions Approach

Authors: G. William Glezen, Donald H. Taylor

7th Edition

047113421X, 978-0471134213

More Books

Students also viewed these Accounting questions