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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 | $900,000 |
Paid-In Capital in Excess of Par-Preferred Stock | 108,000 |
Common Stock, no par, $5 stated value | 400,000 |
Paid-In Capital in Excess of Stated Value-Common Stock | 960,000 |
Paid-In Capital from Sale of Treasury Stock | 284,200 |
Retained Earnings | 3,501,000 |
Prepare the Paid-In Capital portion of the Stockholders' Equity section of the balance sheet using Method 1 of Exhibit 9. There are 260,000 shares of common stock authorized and 24,000 shares of preferred stock authorized.
Point Loma Group Inc. | ||
Stockholders' Equity (Paid-In Capital Section) | ||
October 31, 20XX | ||
Paid-in Capital: | ||
$fill in the blank 2 | ||
fill in the blank 4 | ||
$fill in the blank 6 | ||
fill in the blank 8 | ||
fill in the blank 10 | ||
fill in the blank 12 | ||
fill in the blank 14 | ||
Total Paid-In Capital | $fill in the blank 15 |
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