Excursion Publishing was recently organized as a corporation

Last updated: 9/23/2023

Excursion Publishing was recently organized as a corporation The company issued common stock to an attorney who provided legal services worth 24 000 to help with the incorporation Excursion also issued common stock to an inventor in exchange for her patent with a market value of 80 000 In addition Excursion received cash both for the issuance of 10 000 shares of its preferred stock at 120 per share and for the issuance of 18 000 of its common shares at 4 per share During the first year of operations Excursion earned net income of 94 000 and declared a cash dividend of 30 000 Read the requirement Requirement 1 Without making journal entries determine the total paid in capital created by these transactions Complete the table below by selecting the transactions that result in paid in capital and then enter the amounts to calculate total paid in capital for the period If an input field is not used in the table leave the field empty do not select a label or enter a zero Transaction Paid in capital Total paid in capital Requirement 1 Without making journal entries determine the total paid in capital created by X