The corporate charter of Alpaca Co. authorized the issuance of 17 million, $1 par common shares....
The corporate charter of Alpaca Co. authorized the issuance of 17 million, $1 par common shares. During 2021, its first year of operations, Alpaca had the following transactions:
| January | 1 | sold 13 million shares at $5 per share | |||
| June | 3 | retired 7 million shares at $19 per share | |||
| December | 28 | sold 4 million shares at $21 per share |
What amount should Alpaca report as additional paid-in
capital—excess of par, in its December 31, 2021, balance sheet?
Multiple Choice
-
$104 million
-
$6 million
-
$52 million
-
$208 million
Homework Answers
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The corporate charter of Alpaca Co. authorized the issuance of
17 million, $1 par common shares....
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