Determining paid-in capital for a corporation

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Question: Determining paid-in capital for a corporation Alexa Corporation recently organized. The company issued common stock to an inventor in exchange for a patent with a market value of $56,000. In addition, Alexa received cash for 7,000 shares of its $20 par preferred stock at par value and 9,500 shares of its no-par common stock at $25 per share. Without making journal entries, determine the total paid-in capital created by these transactions.

Reference no: EM131820304

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