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What amount should Alpaca report

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Reference no: EM132608564

Question - The corporate charter of Alpaca Co. authorized the issuance of 30 million, $1 par common shares. During 2021, its first year of operations, Alpaca had the following transactions:

January 1 sold 26 million shares at $5 per share

June 3 retired 12 million shares at $11 per share

December 28 sold 4 million shares at $22 per share

What amount should Alpaca report as additional paid-in capital-excess of par, in its December 31, 2021, balance sheet?

a. $140 million

b. $206 million

c. $104 million

d. $68 million

Reference no: EM132608564

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