A company has 60,000 shares of $10 par common stock authorized. On June 1, the company issued 12,000 shares of common stock in exchange for a patent with a fair value of $600,000. How much should the company record for Paid-in Capital in Excess of Par –c/s on June 1?

Answer rating: 100% (QA)

A Compg he G00hapes at P al lo 19san issued 120o0 Q... View the full answer