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Wildhorse Corporation has 100000 shares of $10 par common stock authorized. The following transactions took place during 2025, the first year of the corporation's existence: Sold 21000 shares of common stock for $14.50 per share. Issued 20100 shares of common stock in exchange for a patent valued at $301500. At the end of Wildhorse's first year, total paid-in capital was O $301500. O $606000. O $304500. O $121000.

Wildhorse Corporation has 100000 shares of $10 par common stock authorized. The following transactions took place during 2025, the first year of the corporation's existence: Sold 21000 shares of common stock for $14.50 per share. Issued 20100 shares of common stock in exchange for a patent valued at $301500. At the end of Wildhorse's first year, total paid-in capital was O $301500. O $606000. O $304500. O $121000.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Current Attempt in Progress Wildhorse Corporation has 100000 shares of $10 par common stock authorized. The following transactions took place during 2025, the first year of the corporation's existence: Sold 21000 shares of common stock for $14.50 per share. Issued 20100 shares of common stock in exchange for a patent valued at $301500. At the end of Wildhorse's first year, total paid-in capital was O $301500. O $606000. O $304500. O $121000.
Transcribed Image Text:Current Attempt in Progress Wildhorse Corporation has 100000 shares of $10 par common stock authorized. The following transactions took place during 2025, the first year of the corporation's existence: Sold 21000 shares of common stock for $14.50 per share. Issued 20100 shares of common stock in exchange for a patent valued at $301500. At the end of Wildhorse's first year, total paid-in capital was O $301500. O $606000. O $304500. O $121000.
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