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The corporate charter of Llama Co. authorized the issuance of 28 million, $1 par common shares. During 2021, its first year of operations, Llama had
The corporate charter of Llama Co. authorized the issuance of 28 million, $1 par common shares. During 2021, its first year of operations, Llama had the following transactions: January 1 sold 3 million shares at $33 per share June 3 purchased 20 million shares of treasury stock at $36 per share December 28 sold the 4 million shares of treasury stock at $38 per share What amount should Llama report as additional paid-in capital in its December 31, 2021, balance sheet? Multiple Choice $62 million $110 million Oo oo $104 million osom
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