Brown Company issued 100,000 shares of its $1 par common stock to the Mary Keim law firm
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Brown Company issued 100,000 shares of its $1 par common stock to the Mary Keim law firm as compensation for 4,000 hours of legal services performed. Keim’s usual rate is $240 per hour. By what amount should Brown’s paid-in capital—excess of par increase as a result of this transaction?
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Browns paidin capital excess of par would increase by 960000 as a result of this transaction The ...View the full answer
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