Question
The corporate charter of Alpaca Company authorized the issuance of 27 million, $1 par common shares. During 2024, its first year of operations, Alpaca had
The corporate charter of Alpaca Company authorized the issuance of 27 million, $1 par common shares. During 2024, its first year of operations, Alpaca had the following transactions:
| January 1 | sold 23 million shares at $7 per share |
|---|---|
| June 3 | retired 9 million shares at $15 per share |
| December 28 | sold 3 million shares at $22 per share |
What amount should Alpaca report as additional paid-in capitalexcess of par, in its December 31, 2024, balance sheet?
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Principles of Accounting
Authors: Needles, Powers, crosson
11th Edition
1439037744, 978-1133626985, 978-1439037744
