The 12/31/2018 balance sheet of Despot Inc. included the following:
Common stock, 25 mi...
Business, 25.03.2020 21:33 sanm378599
The 12/31/2018 balance sheet of Despot Inc. included the following:
Common stock, 25 million shares at $20 par $ 500 million
Paid-in capital—excess of par 3,000 million
Retained earnings 980 million
In January 2018, Despot recorded a transaction with this journal entry:
Cash 150 million
Common stock 100 million
Paid-in capital—excess of par 50 million
The transaction was for the:
Answers: 1
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