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please help (5) Montgomery & Co., a well-established law firm, provided 500 hours of its time to Fink Corporation and received 1,000 shares of Fink's
please help (5)
Montgomery \& Co., a well-established law firm, provided 500 hours of its time to Fink Corporation and received 1,000 shares of Fink's $5 par common stock in exchange for services rendered. Montgomery's usual billing rate is $780 per hour, and Fink's stock has a book value of $330 per share. By what amount will Fink's paid-in capital-excess of par increase for this transaction? Multiple Choice $297,600. $390,000. $388,000. $385,000Step by Step Solution
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