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What is the formula for paid in capital in excess of par Class A and B? for A its (128,000-4,800-12800)/[What determines this?] x 72,000? -
What is the formula for paid in capital in excess of par Class A and B? for A its (128,000-4,800-12800)/[What determines this?] x 72,000?
- Note: As needed, use the account "Common Stock" for parts a through e, and use the accounts "Common Stock-Class A" and "Common Stock-Class B" for parts f and g. g. a. Max Inc. issued 8,000 shares of $1 par value common stock for $20 per share. b. Max Inc. issued 1,600 shares of no-par common stock for $25 per share. The state of incorporation requires a minimum value per share of $2. c. Max Inc. issued 800 shares of no-par common stock for $18 per share. d. Max Inc. issued 8,000 shares of $1 par value common stock for $18 per share and incurred $1,600 in legal fees related to the stock issuance. e. Max Inc. issued 16,000 shares of common stock (\$1 par) in exchange for equipment with a fair value of $284,800. common stock is $10 per shareStep by Step Solution
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