Crane Corporation has 100000 shares of $10 par common stock authorized. The following transactions took place during 2025, the first year of the corporation's existence: Sold 20500 shares of common stock for $14.50 per share. Issued 20400 shares of common stock in exchange for a patent valued at $306000. At the end of Crane's first year, total paid-in capital was O $603250. O $120500. O $297250. O $306000.

Crane Corporation has 100000 shares of $10 par common stock authorized. The following transactions took place during 2025, the first year of the corporation's existence: Sold 20500 shares of common stock for $14.50 per share. Issued 20400 shares of common stock in exchange for a patent valued at $306000. At the end of Crane's first year, total paid-in capital was O $603250. O $120500. O $297250. O $306000.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter15: Contributed Capital

Section: Chapter Questions

Problem 2MC: Cary Corporation has 50,000 shares of 10 par common stock authorized. The following transactions...

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