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Y_Kistochka [10]
2 years ago
7

Montgomery & Co., a well-established law firm, provided 500 hours of its time to Fink Corporation in exchange for 1,000 shar

es of Fink's $5 par common stock. Montgomery's usual billing rate is $700 per hour, and Fink's stock has a book value of $250 per share. By what amount will Fink's paid-in capital—excess of par increase for this transaction?
A) $345,000

B) $295,000

C) $350,000

D) $300,000
Business
1 answer:
Maksim231197 [3]2 years ago
5 0

Answer:

A) $345,000

Explanation:

Total Value of services provided = 500*700

                                                       = $350,000

Common stock = 1000*5

                          = $5,000

Excess amount attributable to paid-in capital—excess of par

= $350,000 - $5,000

= $345,000

Therefore, The amount will Fink's paid-in capital—excess of par increase for this transaction is $345,000.

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Answer:

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3 0
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Answer:

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Harlamova29_29 [7]

Answer:

The correct answer is option D.

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\frac{Cost\ of\ Market\ Basket\ in\ Base\ Year}{ Cost\ of\ Market\ Basket\ in\ Given\ Year} \ \times\ 100

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