The corporate charter of Alpaca Company authorized the issuance of 10 million, $1 par common shares. During 2024, its first year of operations, Alpaca had the following transactions: January 1 sold 8 million shares at $15 per share June 3 retired 2 million shares at $18 per share December 28 sold 2 million shares at $20 per share What amount should Alpaca report as additional paid-in capital—excess of par, in its December 31, 2024, balance sheet

The corporate charter of Alpaca Company authorized the issuance of 10 million, $1 par common shares. During 2024, its first year of operations, Alpaca had the following transactions: January 1 sold 8 million shares at $15 per share June 3 retired 2 million shares at $18 per share December 28 sold 2 million shares at $20 per share What amount should Alpaca report as additional paid-in capital—excess of par, in its December 31, 2024, balance sheet

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 7EB: Silva Company is authorized to issue 5,000,000 shares of $2 par value common stock. In its IPO, the...

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January 1	sold 8 million shares at $15 per share
June 3	retired 2 million shares at $18 per share
December 28	sold 2 million shares at $20 per share

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