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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.
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