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Prepare the paid-in capital portion of the stockholders

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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 end of the current fiscal year:

Common Stock, no par, $14 stated value $840,000

Paid-In Capital from Sale of Treasury Stock 426,600

Paid-In Capital in Excess of Par-Preferred Stock 74,880

Paid-In Capital in Excess of Stated Value-Common Stock 2,016,000

Preferred 2% Stock, $120 par624,000Retained Earnings 5,256,000

Problem 1: Prepare the Paid-In Capital portion of the Stockholders' Equity section of the balance sheet.

Reference no: EM132838137

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