Sharp Corporation has 150,000 shares of $10 par common stock authorized. The following transactions took place during 2013, the first year of the corporation's existence;Sold 15,000 shares of common stock for $15 per share;Issued 10,000 shares of common stock in exchange for legal services valued at $160,000;At the end of Sharp's first year, total paid-in capital amounted to;a. $385,000;b. $225,000;c. $160,000;d. $135,000
Calculating Total Paid-In Capital
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