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The corporate charter of Llama Co. authorized the issuance of 29 million, $1 par common shares. During 2021, its first year of operations, Llama had
The corporate charter of Llama Co. authorized the issuance of 29 million, $1 par common shares. During 2021, its first year of operations, Llama had the following transaction January 1 sold 2 million shares at $34 per share June 3 purchased 21 million shares of treasury stock at $37 per share December 28 sold the 5 million shares of treasury stock at $39 per share What amount should Llama report as additional paid-in capital in its December 31, 2021, balance sheet? Multiple Choice OK $34 million O $76 million O $82 million O $66 million
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