Reporting Paid-In CapitalThe following accounts and their balances were selected from the adjusted trial balance of Block Ayala Group Inc., a freight forwarder, at October 31, the end of the current fiscal year:Common Stock, no par, $22 stated value$5,500,000Paid-In Capital from Sale of Treasury Stock35,000Paid-In Capital in Excess of Par—Preferred Stock165,000Paid-In Capital in Excess of Stated Value—Common Stock380,000Preferred 2% Stock, $110 par6,050,000Retained Earnings31,036,000Prepare the Paid-In Capital portion of the Stockholders' Equity section of the balance sheet using Method 1 of Exhibit 8. There are 300,000 shares of common stock authorized and 100,000 shares of preferred stock authorized.Block Ayala Group Inc.,Stockholders' EquityOctober 31Paid-In Capital: $- Select - - Select - $- Select - $- Select - - Select - - Select - - Select - Total Paid-In Capital $fill in the blank 15

No. of preferred stock issued = Preferred stock capital/par value per share = 6050000/110 = 55000…

Answered: The following accounts and their…

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter13: Corporations: Organization, Stock Transactions, And Dividends

Section: Chapter Questions

Problem 17E: Reporting paid-in capital The following accounts and their balances were selected from the...

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Reporting Paid-In Capital

The following accounts and their balances were selected from the adjusted trial balance of Block Ayala Group Inc., a freight forwarder, at October 31, the end of the current fiscal year:

Common Stock, no par, $22 stated value	$5,500,000
Paid-In Capital from Sale of Treasury Stock	35,000
Paid-In Capital in Excess of Par—Preferred Stock	165,000
Paid-In Capital in Excess of Stated Value—Common Stock	380,000
Preferred 2% Stock, $110 par	6,050,000
Retained Earnings	31,036,000

Prepare the Paid-In Capital portion of the Stockholders' Equity section of the balance sheet using Method 1 of Exhibit 8. There are 300,000 shares of common stock authorized and 100,000 shares of preferred stock authorized.

Block Ayala Group Inc.,Stockholders' EquityOctober 31

Paid-In Capital:
	$- Select -
	- Select -
		$- Select -
	$- Select -
	- Select -
		- Select -
		- Select -
Total Paid-In Capital			$fill in the blank 15

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