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Montgomery & Co., a well established law firm, provided 500 hours of

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Montgomery & Co., a well established law firm, provided 500 hours of its time to Fink Corporation in exchange for 1,000 shares of Fink's $5 par common stock. Mitchell'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.

 

Paper#26738 | Written in 18-Jul-2015

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