Ask Question
11 January, 00:53

A corporation was organized in January 2018 with authorized capital of $10 par value common stock. On February 1, 2018, shares were issued at par for cash. On March 1, 2018, the corporation's attorney accepted 7,000 shares of common stock in settlement for legal services with a fair value of $90,000. Additional paid-in capital would increase on

February 1, 2018 March 1, 2018

1. Yes and Yes

2. No and No

3. Yes and No

4. No and Yes

+4
Answers (1)
  1. 11 January, 04:18
    0
    4. No and Yes

    Explanation:

    On march 1, 2018 the paid in capital will increase by $20000 ($90000 - 7000*$10)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “A corporation was organized in January 2018 with authorized capital of $10 par value common stock. On February 1, 2018, shares were issued ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers