Determining paid-in capital for a corporation Aruba Corporation recently organized. The company issued common stock to an investor in exchange for a patent with a market value of $57,000. In addition, Aruba received cash for 6,000 shares of its $10 par preferred stock at par value and 6,500 shares of its no-par common stock at $20 per share. Without making journal entries, determine the total paid-in capital created by these transactions.
Determining paid-in capital for a corporation Aruba Corporation recently organized. The company issued common stock to an investor in exchange for a patent with a market value of $57,000. In addition, Aruba received cash for 6,000 shares of its $10 par preferred stock at par value and 6,500 shares of its no-par common stock at $20 per share. Without making journal entries, determine the total paid-in capital created by these transactions.
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 1MC
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Determining paid-in capital for a corporation
Aruba Corporation recently organized. The company issued common stock to an investor in exchange for a patent with a market value of $57,000. In addition, Aruba received cash for 6,000 shares of its $10 par
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