A corporation was organized in January year 1 with authorized
capital of $10 par value common stock. On February 1,
year 1, shares were issued at par for cash. On March 1, year 1, the
corporation?s attorney accepted 5,000 shares of the common
stock in settlement for legal services with a fair value of $60,000.
Additional paid-in capital would increase on

February 1, year 1
March 1, year 1

Yes No
Yes Yes
No No
No Yes

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