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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
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: Preferred 2% Stock, $100 par $920,000 Paid-In Capital in Excess of Par-Preferred Stock 110,400 Common Stock, no par, $5 stated value 200,000 Paid-In Capital in Excess of Stated Value-Common Stock 480,000 Paid-In Capital from Sale of Treasury Stock 205,200 Retained Earnings 2,529,000 Prepare the Paid-In Capital portion of the Stockholders' Equity section of the balance sheet using Method 1 of Exhibit 9. There are 130,000 shares of common stock authorized and 25,000 shares of preferred stock authorized. Point Loma Group Inc. Stockholders' Equity (Paid-In Capital Section) October 31, 20XX Paid-in Capital: 000 Total Paid-In Capital
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