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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 $350,000
Paid-In Capital from Sale of Treasury Stock 232,800
Paid-In Capital in Excess of Par-Preferred Stock 80,400
Paid-In Capital in Excess of Stated Value-Common Stock 840,000
Preferred 2% Stock, $100 par 670,000
Retained Earnings 2,869,000

Prepare the Paid-In Capital portion of the "Stockholders' Equity" section of the balance sheet using Method 1 of Exhibit 9. There are 220,000 shares of common stock authorized and 18,000 shares of preferred stock authorized.

Point Loma Group Inc. Balance Sheet October 31, 20XX
Stockholders Equity
Paid-in Capital: blank blank

CashFrom Sale of Treasury StockPreferred 2% Stock, $100 Par (18,000 Shares Authorized, 6,700 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 (220,000 Shares Authorized, 70,000 Shares Issued)From Sale of Treasury StockRetained Earnings

$- Select -

CashExcess of Issue Price Over ParPreferred 2% Stock, $100 Par (100,000 Shares Authorized, 6,700 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, 70,000 Shares Issued)From Sale of Treasury StockPreferred 2% Stock, $100 Par (100,000 shares authorized, 6,700 shares issued)

- Select -
Total Paid-In Capital $fill in the blank 15

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