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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, $14 stated value | $1,260,000 |
Paid-In Capital from Sale of Treasury Stock | 609,200 |
Paid-In Capital in Excess of ParPreferred Stock | 84,960 |
Paid-In Capital in Excess of Stated ValueCommon Stock | 3,024,000 |
Preferred 2% Stock, $120 par | 708,000 |
Retained Earnings | 7,506,000 |
Prepare the Paid-In Capital portion of the Stockholders' Equity section of the balance sheet. There are 290,000 shares of common stock authorized and 16,000 shares of preferred stock authorized.
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