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Brief Exercise 18-3 (Algo) Stock issued [LO18-4] Lewelling Company issued 104,000 shares of its $1 par common stock to the Michael Morgan law firm
Brief Exercise 18-3 (Algo) Stock issued [LO18-4] Lewelling Company issued 104,000 shares of its $1 par common stock to the Michael Morgan law firm as compensation for 4,400 hours of legal services performed. Morgan's usual rate is $130 per hour. By what amount should Lewelling's paid-in capital-excess of par increase as a result of this transaction? Paid-in capital-excess of par
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Financial ACCT2
Authors: Norman H. Godwin, C. Wayne Alderman
2nd edition
9781285632544, 1111530769, 1285632540, 978-1111530761
