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Lewelling Company issued 114,000 shares of its $1 par common stock to the Michael Morgan law firm as compensation for 5,400 hours of legal
Lewelling Company issued 114,000 shares of its $1 par common stock to the Michael Morgan law firm as compensation for 5,400 hours of legal services performed. Morgan's usual rate is $230 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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Principles of Accounting
Authors: Belverd Needles, Marian Powers, Susan Crosson
10th edition
618736611, 978-1111809508, 111180950X, 978-0618736614
