A. 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 Paid-In Capital from Sale of Treasury Stock Paid-In Capital in Excess of Par-Preferred Stock Paid-In Capital in Excess of Stated Value-Common Stock $1,120,000 555,300 87,840 2,688,000 Preferred 2% Stock, $120 par Retained Earnings Prepare the Paid-In Capital portion of the Stockholders' Equity section of the balance sheet. There are 260,000 shares of common stock authorized and 16,000 shares of preferred stock authorized. 732,000 6,842,000

A. 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 Paid-In Capital from Sale of Treasury Stock Paid-In Capital in Excess of Par-Preferred Stock Paid-In Capital in Excess of Stated Value-Common Stock $1,120,000 555,300 87,840 2,688,000 Preferred 2% Stock, $120 par Retained Earnings Prepare the Paid-In Capital portion of the Stockholders' Equity section of the balance sheet. There are 260,000 shares of common stock authorized and 16,000 shares of preferred stock authorized. 732,000 6,842,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Subject : Accounting
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Subject:- accounting
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