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The following accounts and their balances were selected from the unadjusted trial balance of Point Loma...

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: 1 Common Stock, no par, $16 stated value $5,072,000.00 2 Paid-In Capital from Sale of Treasury Stock 44,300.00 3 Paid-In Capital in Excess of Par-Preferred Stock 182,000.00 4 Paid-In Capital in Excess of Stated Value-Common Stock 480,000.00 5 Preferred 2% Stock, $105 par 7,035,000.00 6 Retained Earnings 38,645,000.00 Prepare the Paid-In Capital portion of the Stockholders’ Equity section of the balance sheet using Method 1 of Exhibit 6. There are 375,000 shares of common stock authorized and 85,000 shares of preferred stock authorized. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries.

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Stock holders Equity Paid In Capital Common Stock 375,000 shares Authorized having stated value $16 per share, 317,000 shares issued Preferred 2% Stock having Par value $105 per share, 85,000 shares authorized, 67,000 shares Issued Paid In Capital in Excess of Stated Value - Common Stock Paid In Capital in Excess of Par Value Preferred Stock Paid In Capital from sale of Treasury Stock Total Paid In Capital Retained Earnings Total Stockholders Equity $5,072,000.00 $7,035,000.00 $480,000.00 $182,000.00 $44,300.00 $12,813,300.00 $38,645,000.00 $51,458,300.00

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