The corporate charter of alpaca co. authorized the issuance of 10 million, $1 par common shares. during 2018, its first year of operations, alpaca had the following transactions: january 1 sold 8 million shares at $15 per share june 3 retired 2 million shares at $18 per share december 28 sold 2 million shares at $20 per share what amount should alpaca report as additional paid-in capital‒ excess of par, in its december 31, 2018, balance sheet? multiple choice $122 million $74 million $116 million $112 million

Option (a) is correct.

Explanation:

The journal entries are as follows:

On Jan 1,

Cash A/c (8 million × $15)             Dr.           120

To Common stock A/c (8 million × $1)                          8

To additional paid-in capital‒ excess of par                 112

On June 03,

Common stock A/c (2 million × $1)          Dr.    2

Additional paid-in capital‒ excess of par  Dr.    28

Retained Earnings A/c (2 million × $3)     Dr.    6

To Cash A/c (2 million × $18)                                          36

On Dec 28,

Cash A/c (2 million × $20)             Dr.           40

To Common stock A/c (2 million × $1)                          2

To additional paid-in capital‒ excess of par                 38

Therefore,

The amount should Alpaca report as additional paid-in capital‒ excess of par, in its December 31, 2018, balance sheet:

= 112 - 28 +  38

= $122 million

you don't if you paid you paid. it's like if i bought a computer and used it then i say idon't want it anymore so im gonna return it. you can't. unlkess you have your reciept