Business, 07.07.2020 17:01 sophiaa23

A new company issues 2,000 shares of $5 par common stock in exchange for the services of a lawyer during its first month of business. The lawyer's normal fee is $15,000 for similar work. Which of the following accounting equation effects would be recorded if the stock is not currently trading?a. An increase in Common Stock for $15,000b. A decrease in Common Stock for $10,000c. An increase in Additional Paid-In Capital--Common Stock for $5,000d. A decrease in Additional Paid-In Capital--Common Stock for $5,000

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A new company issues 2,000 shares of $5 par common stock in exchange for the services of a lawyer du...

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