Fox Co. issued 1,000 shares of its $15 par common stock to Owl Co. in exchange for equipment with an original cost of $300,000 and accumulated depreciation of $125,000. On the date of issuance, the stock was trading on a public exchange at $160 per share. By what amount should Fox's additional paid-in capital account increase as a result of this transaction?
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Home » Business » Fox Co. issued 1,000 shares of its $15 par common stock to Owl Co. in exchange for equipment with an original cost of $300,000 and accumulated depreciation of $125,000.