(L.OBJ. 2) Paid-in capital for a corporation [10 min]
Alexa Corporation recently organized. The company issued common stock to an inventor in exchange for a patent with a market value of $53,000. In addition, Alexa received cash both for 5,000 shares of its $20 par preferred stock at par value and for 6,500 shares of its no-par common stock at $25 per share.
Requirement
1. Without making journal entries, determine the total paid-in capital created by these transactions.
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