Question

The following accounts and their balances were selected from the unadjusted trial balance of Sailors Inc., a freight forwarder, at August 31, the end of the current fiscal year:
Preferred 2% Stock, $100 par................ $ 750,000
Paid-In Capital in Excess of Par—Preferred Stock ......... 90,000
Common Stock, no par, $5 stated value ..................... 562,500
Paid-In Capital in Excess of Stated Value—Common Stock... 75,000
Paid-In Capital from Sale of Treasury Stock .................... 63,750
Retained Earnings ............................................................. 1,875,000
Prepare the Paid-In Capital portion of the Stockholders’ Equity section of the balance sheet. There are 200,000 shares of common stock authorized and 80,000 shares of preferred stock authorized.



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  • CreatedNovember 10, 2012
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