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Business, 05.05.2020 20:39 janeou17xn

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 $4,480,000 Paid-In Capital from Sale of Treasury Stock 45,000 Paid-In Capital in Excess of Par—Preferred Stock 210,000 Paid-In Capital in Excess of Stated Value—Common Stock 480,000 Preferred 2% Stock, $120 par 8,400,000 Retained Earnings 39,500,000 Prepare the Paid-In Capital portion of the "Stockholders' Equity" section of the balance sheet using Method 1 of Exhibit 9. There are 375,000 shares of common stock authorized and 85,000 shares of preferred stock authorized.

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