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By what amount Fox additional paid-in capital increase

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Question - Fox Co. issued 2,000 shares of its $2 par common stock to Owl Co. as compensation for 1,000 hours of legal services performed. Owl usually bills $200 per hour for legal services. On the date of issuance, the stock was trading on a public exchange at $90 per share. By what amount should Fox's additional paid-in capital account increase as a result of this transaction?

a. $200,000

b. $180,000

c. $176,000

d. $196,000

Reference no: EM132708342

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