The corporate charter of Llama Co. authorized the issuance of 28 million, $1 par common shares. During 2021, its first year of operations, Llama had the following transactions:
January 1 sold 3 million shares at $33 per share
June 3 purchased 20 million shares of treasury stock at $36 per share
December 28 sold the 4 million shares of treasury stock at $38 per share
What amount should Llama report as additional paid-in capital in its December 31, 2021, balance sheet?
a. $62 million
b. $110 million
c. $104 million
Answers: 1
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The corporate charter of Llama Co. authorized the issuance of 28 million, $1 par common shares. Duri...
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