Homework Answers
| Amount of Service performed by Michael Morgan law firm(5800 hours @$280 per hours) | $ 16,24,000.00 |
| Shares issued at par value(118000 shares @$1) | $ 1,18,000.00 |
| Paid in capital excess of par(A)-(B) | $ 15,06,000.00 |
| Paid in Capital is the share price in excess of par value | |
| Lowelling paid in capital-excess of par increase as a result of this transaction=$1506000 |
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