The corporate charter of Alpaca Co. authorized the issuance of 13 million, $1 par common shares. During 2021, its first year of operations, Alpaca had the following transactions: January 1 sold 11 million shares at $18 per share June 3 retired 5 million shares at $21 per share December 28 sold 4 million shares at $20 per share What amount should Alpaca report as additional paid-in capital—excess of par, in its December 31, 2021, balance sheet?
The corporate charter of Alpaca Co. authorized the issuance of 13 million, $1 par common shares. During 2021, its first year of operations, Alpaca had the following transactions: January 1 sold 11 million shares at $18 per share June 3 retired 5 million shares at $21 per share December 28 sold 4 million shares at $20 per share What amount should Alpaca report as additional paid-in capital—excess of par, in its December 31, 2021, balance sheet?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The corporate charter of Alpaca Co. authorized the issuance of 13 million, $1 par common shares. During 2021, its first year of operations, Alpaca had the following transactions: January 1 sold 11 million shares at $18 per share June 3 retired 5 million shares at $21 per share December 28 sold 4 million shares at $20 per share What amount should Alpaca report as additional paid-in capital—excess of par, in its December 31, 2021,
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