A corporation was organized in January year 1 with authorized capital of $10

par value common stock. On February 1, year 1, shares were issued at par for
cash. On March 1, year 1, the corporation�s attorney accepted 5,000 shares
of the common stock in settlement for legal services with a fair value of
$60,000. Additional paid-in capital would increase on
February 1, year 1
March 1, year 1

Yes No Yes Yes No No No Yes