What amount should Llama report

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Reference no: EM132979971

Problem - The corporate charter of Llama Co. authorized the issuance of 29 million, $1 par common shares. During 2021, its first year of operations, Llama had the following transaction

January 1 sold 2 million shares at $34 per share

June 3 purchased 21 million shares of treasury stock at $37 per share

December 28 sold the 5 million shares of treasury stock at $39 per share

Required - What amount should Llama report as additional paid-in capital in its December 31, 2021, balance sheet?

Reference no: EM132979971

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