Arilla Corporation recently organized. The company issued common stock to an inventor in exchange for a patent

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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. Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...
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Horngrens Financial and Managerial Accounting

ISBN: 978-0133866292

5th edition

Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura

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