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Compute total paid-in capital

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Reference no: EM132908627

Question - Sunland Company has 100000 shares of $10 par common stock authorized. The following transactions took place during 2020, the first year of the corporation's existence:

Sold 20600 shares of common stock for $13.50 per share.

Issued 20600 shares of common stock in exchange for a patent valued at $309000.

Required - At the end of the Sunland's first year, compute total paid-in capital?

Reference no: EM132908627

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