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 Prepare the Paid-In Capital portion of the "Stockholders' Equity" section of the balance sheet using Method 1 of Exhibit 9. There are 375,000 shares of common stock authorized and 85,000 shares of preferred stock authorized. Point Loma Group Inc.Balance SheetOctober 31, 20XX Stockholder’s Equity blank Paid-in Capital: blank blank blank $Preferred 2% Stock, $120 Par (85,000 Shares Authorized, 70,000 Shares Issued) blank Excess of Issue Price Over Par blank $Paid-In Capital, Preferred Stock $Common Stock, No Par, $14 Stated Value (375,000 Shares Authorized, 320,000 Shares Issued) blank Excess of Issue Price Over Par blank Paid-In Capital, Common Stock From Sale of Treasury Stock blank Total Paid-In Capital blank $fill in the blank 15

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Question

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

Prepare the Paid-In Capital portion of the "Stockholders' Equity" section of the balance sheet using Method 1 of Exhibit 9. There are 375,000 shares of common stock authorized and 85,000 shares of preferred stock authorized.

Point Loma Group Inc.Balance SheetOctober 31, 20XX

Stockholder’s Equity			blank
Paid-in Capital:	blank	blank	blank
	$Preferred 2% Stock, $120 Par (85,000 Shares Authorized, 70,000 Shares Issued)		blank
	Excess of Issue Price Over Par		blank
		$Paid-In Capital, Preferred Stock
	$Common Stock, No Par, $14 Stated Value (375,000 Shares Authorized, 320,000 Shares Issued)		blank
	Excess of Issue Price Over Par		blank
		Paid-In Capital, Common Stock
		From Sale of Treasury Stock	blank
Total Paid-In Capital		blank	$fill in the blank 15