Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Oriole Corporation has 1 0 0 0 0 0 shares of $ 1 0 par common stock authorized. The following transactions took place during 2

Oriole Corporation has 100000 shares of $10 par common stock authorized. The following transactions took place during 2025, the first year of the corporation's existence:
Sold 20700 shares of common stock for $14.50 per share.
Issued 20400 shares of common stock in exchange for a patent valued at $306000.
At the end of Oriole's first year, total paid-in capital was
$300150.
$606150.
$306000.
$120700.
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Youre A Golden Auditor Keep It Up

Authors: Auditor Publishing

1st Edition

165805931X, 978-1658059312

More Books

Students also viewed these Accounting questions