Slobkliclders Amount Descriptions Instructions Instructions 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: $5,072,000 00 Common Stock, no par, $16 stated value 44,300.00 2 Paid-In Capital from Sale of Treasury Stock 182,000.00 Paid-In Capitalin Excess of Par-Preferred Stock 480,000.00 4 Paid-In Capital in Excess of Stated Value-Common Stock 7035,000.00 S Preferred 2% Stock, $105 par 38645,000.00 Retained Earnings 1 of Exhibit 8. There are 375,000 shares of common stock Prepare the Paid-In Capital portion of the stockholders'equity section of the balance sheet using Method authorized and 85,000 shares of preferred stock authorized. Refer to the Amount Descriptions fist provided for the exact wording of the answer choices for text entries Next Previous 3 more Check My Work uses remaining. Check My Work

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Slobkliclders
Amount Descriptions
Instructions
Instructions
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:
$5,072,000 00
Common Stock, no par, $16 stated value
44,300.00
2 Paid-In Capital from Sale of Treasury Stock
182,000.00
Paid-In Capitalin Excess of Par-Preferred Stock
480,000.00
4 Paid-In Capital in Excess of Stated Value-Common Stock
7035,000.00
S Preferred 2% Stock, $105 par
38645,000.00
Retained Earnings
1 of Exhibit 8. There are 375,000 shares of common stock
Prepare the Paid-In Capital portion of the stockholders'equity section of the balance sheet using Method
authorized and 85,000 shares of preferred stock authorized. Refer to the Amount Descriptions fist provided for the exact wording of the answer choices for text entries
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Transcribed Image Text:Slobkliclders Amount Descriptions Instructions Instructions 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: $5,072,000 00 Common Stock, no par, $16 stated value 44,300.00 2 Paid-In Capital from Sale of Treasury Stock 182,000.00 Paid-In Capitalin Excess of Par-Preferred Stock 480,000.00 4 Paid-In Capital in Excess of Stated Value-Common Stock 7035,000.00 S Preferred 2% Stock, $105 par 38645,000.00 Retained Earnings 1 of Exhibit 8. There are 375,000 shares of common stock Prepare the Paid-In Capital portion of the stockholders'equity section of the balance sheet using Method authorized and 85,000 shares of preferred stock authorized. Refer to the Amount Descriptions fist provided for the exact wording of the answer choices for text entries Next Previous 3 more Check My Work uses remaining. Check My Work
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