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The Corporate Charter of Llama Co

Question 65

Multiple Choice

The corporate charter of Llama Co. authorized the issuance of 10 million, $1 par common shares. During 2018, its first year of operations, Llama had the following transactions: The corporate charter of Llama Co. authorized the issuance of 10 million, $1 par common shares. During 2018, its first year of operations, Llama had the following transactions: What amount should Llama report as additional paid-in capital in its December 31, 2018, balance sheet? A) $122 million B) $116 million C) $112 million D) $74 million What amount should Llama report as additional paid-in capital in its December 31, 2018, balance sheet?


A) $122 million
B) $116 million
C) $112 million
D) $74 million

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