Arilla Corporation recently organized. The company issued common stock to an inventor in exchange for a patent with a market value of $54,000. In addition, Arilla received cash for 3,000 shares of its $10 par preferred stock at par value and 6,000 shares of its no-par common stock at $35 per share. Without making journal entries, determine the total paid-in capital created by these transactions.
Answer to relevant QuestionsSkylar Systems completed the following stock issuance transactions: May 19 Issued 1,700 shares of $2 par value common stock for cash of $9.50 per share. Jun. 3 Issued 200 shares of $9, no-par preferred stock for $10,000 ...Pioneer Amusements Corporation had the following stockholders’ equity on November 30: Stockholders' Equity Paid-In Capital: Common Stock—$5 Par Value; 1,300 shares authorized, 130 shares issued and ...Ashford Corporation issued 10,000 shares of no-par common stock for $5 per share on March 13. Record the stock issuance. The balance sheet of Morrisey Management Consulting, Inc. at December 31, 2015, reported the following stockholders’ equity: Stockholders' Equity Paid-In Capital: Common Stock—$10 Par Value; 300,000 shares authorized, ...This problem continues the Daniels Consulting situation from Problem PI2-45 of Chapter 12. Daniels decides to raise additional capital for a planned business expansion by issuing 8,000 additional $2 par value common shares ...
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