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Reporting 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
Reporting 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, $5 stated value | $150,000 |
Paid-In Capital from Sale of Treasury Stock | 148,600 |
Paid-In Capital in Excess of Par-Preferred Stock | 78,000 |
Paid-In Capital in Excess of Stated Value-Common Stock | 360,000 |
Preferred 2% Stock, $100 par | 650,000 |
Retained Earnings | 1,830,000 |
Prepare the Paid-In Capital portion of the "Stockholders' Equity" section of the balance sheet using Method 1 of Exhibit 9. There are 100,000 shares of common stockauthorized and 17,000 shares of preferred stock authorized.
Stockholders Equity | ||
Paid-in Capital: | blank | blank |
CashFrom Sale of Treasury StockPreferred 2% Stock, $100 Par (17,000 Shares Authorized, 6,500 Shares Issued)Retained Earnings | $- Select - | |
CashExcess of Issue Price Over ParFrom Sale of Treasury StockRetained Earnings | - Select - | |
Excess of Issue Price Over ParFrom Sale of Treasury StockPaid-In Capital, Common StockPaid-In Capital, Preferred Stock | $- Select - | |
CashCommon Stock, No Par, $5 Stated Value (100,000 Shares Authorized, 30,000 Shares Issued)From Sale of Treasury StockRetained Earnings | $- Select - | |
CashExcess of Issue Price Over ParPreferred 2% Stock, $100 Par (100,000 Shares Authorized, 6,500 Shares Issued)Retained Earnings | - Select - | |
Excess of Issue Price Over ParFrom Sale of Treasury StockPaid-In Capital, Common StockPaid-In Capital, Preferred Stock | - Select - | |
CashCommon Stock, No Par, $5 Stated Value (500,000 Shares Authorized, 30,000 Shares Issued)From Sale of Treasury StockPreferred 2% Stock, $100 Par (100,000 shares authorized, 6,500 shares issued) | - Select - | |
Total Paid-In Capital | $fill in the blank 15 |
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