1. Reporting Capital contributed to a corporation by the stockholders and others.Paid-In Capital

   The following accounts and their balances were selected from the adjusted trial balance of Point Loma Group Inc., a freight forwarder, at October 31, the end of the current fiscal year:

   Common Stock, no par, $14 stated value	$4,480,000
   Paid-In Capital from Sale of Treasury Stock	45,000
   Paid-In Capital in Excess of ParPreferred Stock	210,000
   Paid-In Capital in Excess of Stated ValueCommon Stock	480,000
   Preferred 2% Stock, $120 par	8,400,000
   Retained Earnings	39,500,000

   Prepare the Paid-In Capital portion of the The owners' equity in a corporation.Stockholders' Equity section of the balance sheet using Each class of stock is reported, followed by its related paid-in capital accounts. Retained earnings is then reported followed by a deduction for treasury stock.Method 1 of Exhibit 9. There are 375,000 shares of The stock outstanding when a corporation has issued only one class of stock.common stock authorized and 85,000 shares of A class of stock with preferential rights over common stock.preferred stock authorized.

   Point Loma Group Inc.
   Stockholders' Equity (Paid-In Capital Section)
   October 31, 20XX
   Paid-In Capital:
   Preferred 2% Stock, $120 Par (85,000 Shares Authorized, 70,000 Shares Issued) Cash From Sale of Treasury Stock Preferred 2% Stock, $120 Par (85,000 Shares Authorized, 70,000 Shares Issued) Retained Earnings	$
   Excess of Issue Price Over Par Cash Excess of Issue Price Over Par From Sale of Treasury Stock Retained Earnings
   Paid-in capital, preferred stock Cash From Sale of Treasury Stock Paid-in capital, common stock Paid-in capital, preferred stock		$
   Common Stock, No Par, $14 Stated Value (375,000 Shares Authorized, 320,000 Shares Issued) Cash Common Stock, No Par, $14 Stated Value (375,000 Shares Authorized, 320,000 Shares Issued) Retained Earnings From Sale of Treasury Stock	$
   Excess of Issue Price Over Stated Value Cash Excess of Issue Price Over Stated Value Preferred 2% Stock, $120 Par (85,000 Shares Authorized, 70,000 Shares Issued) Retained Earnings
   Paid-in capital, common stock Cash From Sale of Treasury Stock Paid-in capital, common stock Paid-in capital, preferred stock
   From Sale of Treasury Stock Cash Common Stock, No Par, $14 Stated Value (375,000 Shares Authorized, 320,000 Shares Issued) From Sale of Treasury Stock Preferred 2% Stock, $120 Par (85,000 Shares Authorized, 70,000 Shares Issued) Retained Earnings
   Total Paid-In Capital