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Vischten, Co., recently organized. The company issued no-par common stock to an attorney in exchange for his patent with a market value of $64,000. In
Vischten, Co., recently organized. The company issued no-par common stock to an attorney in exchange for his patent with a market value of $64,000. In addition, Vischten, Co., received cash for 7,000 shares of its $50 par preferred stock sold at par value and for 23,000 shares of its no-par common stock sold at $10 per share. Retained earnings at the end of the first year was $44,000. Without making journal entries, determine the total paid-in capital created by these transactions. The total paid-in capital created by these transactions amounts to $
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