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$1$

$1\mathrm{.}66$

points

Brown Company issued $110,000$ shares of its $$1$ par common stock to the Mary Keim law firm as compensation for $5,000$ hours of legal services performed. Keim's usual rate is $$190$ per hour.

By what amount should Brown's paid$-$in capital$-$excess of par increase as a result of this transaction?

References

Paid$-$in capital$-$excess of par

$2$

Hamilton Boats issued $202,500$ shares of its no$-$par common stock to Sudoku Motors in exchange for $1,350$

$1\mathrm{.}68$ four$-$stroke outboard motors that normally sell in quantity points for $$3,000$ each.

By what amount should Hamilton's shareholders' equity

eBook increase as a result of this transaction?

References

Shareholders' equity

Penne Pharmaceuticals sold $2$ million shares of its $$5$ par common stock to provide funds for research and

$1\mathrm{.}66$

points development.

If the issue price is $$16$ per share, what is the journal entry to record the sale of the shares?

eBlook

$$

References select $"$No journal entry required" in the first account field. Enter your answers in millions $($i$.$e$.,10,000,000$ should be entered as $10).$

Journal entry worksheet

$1$

Record the sale of the shares.

Note: Enter debits before credits.

$\backslash$table$[[$S$.$No$/$Date$,$Account Title,Debit,Credit,$],[1,,,,],[,,,,],[,,,,],[,,,,]]$

$$