Balance in the additional paid-in capital account

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Question: Warren Corporation was organized on January 1, 2014, with an authorization of 500,000 shares of common stock ($5 par value per share). During 2014, the company had the following capital transactions:

January 5             Issued 100,000 shares at $5 per share

April 6                 Issued 50,000 shares at $7 per share

June 8                 Issued 15,000 shares at $10 per share

July 28                Purchased 25,000 shares at $4 per share

December 31       Sold 25,000 shares held in treasury at $8 per share

Required: What should be the balance in the Additional paid-in capital account at December 31, 2014?

Reference no: EM131791937

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