Question: Brawndo issued common stock and received $29,000,000. The par value of the Brawndo stock was only $34,000. Requirements 1. Is the excess amount of $28,966,000

Brawndo issued and received $29,000,000. The of the Brawndo stock was only $34,000.
Requirements
1. Is the excess amount of $28,966,000 a profit to Brawndo?
2. Journalize the entry to record the stock issuance.

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