Fannie Mae-No Politics (FNMA)

[imtheshadow]

Yank, you may have mis-read the example. It stated that the par value was $10/sh and the 10,000 shares were issued at $13/sh. So Common Stock was credited $10/sh x 10,000 sh = $100,000 ... and paid-in-capital was credited ($13/sh issue - $10/sh par) x 10,000 sh = $30,000. Paid-in-capital is ALWAYS credit for the amount ABOVE par. In fact, paid-in-capital is frequently also called "additional paid-in-capital" and even "paid-in-capital in excess of par". Hope that helps.

Really admire all of your efforts, but I also agree with navy that the ACCOUNTING won't matter as long as the ECONOMICS are broken.