Company A provided 500 hours of its time to company B in exchange for 1,000 shares of

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Company A provided 500 hours of its time to company B in exchange for 1,000 shares of company B $5 par common stock. Billing rate is $700 per hour, and company B stock has a book value of $250 per share. What amount will company B paid in capital-excess of per increase this transaction?

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Advanced Accounting

ISBN: 978-1118037911

1st Canadian Edition

Authors: Gail Fayerman

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