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13-09-2022
Business

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alder corp. had the following stockholders' equity balances at the beginning of the current year: common stock 200,000 shares authorized, $1 par; 15,000 shares issued and outstanding $15,000 additional paid-in capital 24,000 retained earnings 11,000 during the current year, alder issued 2,000 shares of common stock with a fair value of $35 per share to terry brady on a subscription basis. terry made a down payment of $3,500, but shortly thereafter defaulted on the subscription. what would be the debit to additional paid-in capital if alder returned the $3,500 to terry?

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