Question: reporting paidin capital the following accounts and their balances were...
Reporting Paid-In Capital The following accounts and their balances were selected from the unadjusted 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 7. There are 375,000 shares of common stock authorized and 85,000 shares of preferred stock authorized. Point Loma Group Inc. Stockholders' Equity October 31, 20XX Paid-In Capital: $ $ $ Total Paid-In Capital $
Prepare the Stockholders’ Equity section of the balance sheet as of June 30. Eighty thousand shares of common stock are authorized, and 9,000 shares have been reacquired. Refer to the lists of Accounts and Amount Descriptions provided for the exact wording of the answer choices for text entries. “Deduct” will automatically appear if required.
|Point Loma Group Inc.|
|October 31, 20XX|
|Total Paid-In Capital||$|