Business, 25.03.2020 21:33 sanm378599

The 12/31/2018 balance sheet of Despot Inc. included the following:

Common stock, 25 million shares at $20 par $ 500 million
Paid-in capital—excess of par 3,000 million
Retained earnings 980 million

In January 2018, Despot recorded a transaction with this journal entry:
Cash 150 million
Common stock 100 million
Paid-in capital—excess of par 50 million

The transaction was for the:

Answers: 1

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The 12/31/2018 balance sheet of Despot Inc. included the following:

Common stock, 25 mi...

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