A corporation was organized in January 2014 with authorized capital of $10 par value common stock. On February 1, 2014, shares were issued at par for cash. On March 1, 2014, the corporation's attorney accepted 7,000 shares of common stock in settlement for legal services with a fair value of $90,000. Additional paid-in capital would increase on

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The Answer of A corporation was organized in January 2014 with authorized capital of $10 par value common stock. On February 1, 2014, shares were issued at par for cash. On March 1, 2014, the corporation's attorney accepted 7,000 shares of common stock in settlement for legal services with a fair value of $90,000. Additional paid-in capital would increase on

A Corporation Was Organized in January 2014 with Authorized Capital