Reporting paid-in capital
The following accounts and their balances were selected from the unadjusted trial balance of CW Group Inc., a freight forwarder, at March 31, the end of the current fiscal year:
|
Preferred 1% Stock, $75 par
|
$4,500,000
|
|
Paid-In Capital in Excess of Par-Preferred Stock
|
180,000
|
|
Common Stock, no par, $8 stated value
|
2,400,000
|
|
Paid-In Capital in Excess of Stated Value-Common Stock
|
450,000
|
|
Paid-In Capital from Sale of Treasury Stock
|
190,000
|
|
Retained Earnings
|
11,570,000
|
Prepare the Paid-In Capital portion of the Stockholders' Equity section of the balance sheet. There are 500,000 shares of common stock authorized and 100,000 shares of preferred stock authorized.