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What total paid-in capital amounted to

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Vaughn Manufacturing has 100000 shares of $10 par common stock authorized. The following transactions took place during 2020, the first year of the corporation's existence:

  1. Sold 19100 shares of common stock for $13.50 per share.
  2. Issued 19400 shares of common stock in exchange for a patent valued at $291000.

Problem 1: At the end of the Vaughn's first year, total paid-in capital amounted to

Reference no: EM132902955

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