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The corporate charter of Llama Co. authorized the issuance of 25 million, $1 par common shares. During 2021, its first year of operations, Llama had
The corporate charter of Llama Co. authorized the issuance of 25 million, $1 par common shares. During 2021, its first year of operations, Llama had the following transactions: January 1 sold 5 million shares at $30 per share June 3 purchased 17 million shares of treasury stock at $33 per share December 28 sold the 2 million shares of treasury stock at $35 per share What amount should Llama report as additional paid-in capital in its December 31, 2021, balance sheet? Multiple Choice $155 milion $145 million $149 million $107 million
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