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What should be recorded in planet additional paid-in capital

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Question - Planet Co. issues 300,000 shares of $4 par value common stock to acquire Star Co. in a business combination. The market value of Planet's common stock is $16. Planet incurs legal and appraisal fees of $100,000 with the combination and stock issue costs of $40,000. What should be recorded in a Planet's additional paid-in capital account for this business combination?

Reference no: EM133098561

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