Reference no: EM132683419

Problem - Reporting paid-in capital

The following accounts and their balances were selected from the unadjusted trial balance of CW Group Inc., a freight forwarder, at March 31, the end of the current fiscal year:

Preferred 1% Stock, $75 par $4,500,000

Paid-In Capital in Excess of Par-Preferred Stock 180,000

Common Stock, no par, $8 stated value 2,400,000

Paid-In Capital in Excess of Stated Value-Common Stock 450,000

Paid-In Capital from Sale of Treasury Stock 190,000

Retained Earnings 11,570,000

Required - Prepare the Paid-In Capital portion of the Stockholders' Equity section of the balance sheet. There are 500,000 shares of common stock authorized and 100,000 shares of preferred stock authorized.