What amount should alpaca report as additional paid, Accounting Basics

What amount should alpaca report as additional paid

Problem: The corporate charter of Alpaca Company authorized the issuance of 27 million, $1 par common shares. During 2024, its first year of operations, Alpaca had the following transactions:

January 1 sold 23 million shares at $7 per share

June 3 retired 9 million shares at $15 per share

December 28 sold 3 million shares at $22 per share

What amount should Alpaca report as additional paid-in capital-excess of par, in its December 31, 2024, balance sheet?

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Accounting Basics: What amount should alpaca report as additional paid

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