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Determine the total paid-in capital created by transaction

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Reference no: EM132672825

Problem 1: The company issued common stock to an inventor in exchange for a patent with a market value of $53,000. In addition, Axle received cash for 4,000 shares of its $10 par preferred stock at par value and 9,000 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. The total paid-in capital created by these transactions amounts to $

Reference no: EM132672825

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