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Make the Paid-in capital portion of the Stockholders Equity

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Reference no: EM132742856

Problem - 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

Required - Make the Paid-in capital portion of the "Stockholders' Equity" section of the balance sheet. There are 375,000 shares of common stock authorized and 85,000 shares of preferred stock authorized.

Reference no: EM132742856

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