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9 May, 02:15

The corporate charter of Alpaca Co. authorized the issuance of 10 million, $1 par common shares. During 2018, its first year of operations, Alpaca had the following transactions: January 1 sold 8 million shares at $15 per share June 3 retired 2 million shares at $18 per share December 28 sold 2 million shares at $20 per share What amount should Alpaca report as additional paid-in capital - excess of par, in its December 31, 2018, balance sheet?

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  1. 9 May, 03:43
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    Additional paid-in capital - excess of par=

    8,000,000 * (15-1) = 112,000,000

    -2,000,000 * (18-1) = 34,000,000

    +2,000,000 (20-1) = 38,000,000

    =184,000,000
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