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PC Law Firm provides services for Cougar Capital Corp and bills $100,000 for their services, which cost them $70,000 to Cougar's common stock has a par value of $2 per share. The common stock shares trade actively and was trading for $ amount should the stock issuance be recorded on Cougar's books? 100.000

PC Law Firm provides services for Cougar Capital Corp and bills $100,000 for their services, which cost them $70,000 to Cougar's common stock has a par value of $2 per share. The common stock shares trade actively and was trading for $ amount should the stock issuance be recorded on Cougar's books? 100.000

Excel Applications for Accounting Principles
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter13: Earnings Per Share (eps)
Section: Chapter Questions
Problem 1R: Ponce Towers, Inc., had 50,000 shares of common stock and 10,000 shares of 100 par value, 8%...
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PC Law Firm provides services for Cougar Capital Corp and bills $100,000 for their services, which cost them $70,000 to provide. Cougar pays PC Law Firm with 100,000 shares of stock. Cougar's common stock has a par value of $2 per share. The common stock shares trade actively and was trading for $1.20 per share on the day Cougar issued the stock PC Law Firm. At what amount should the stock issuance be recorded on Cougar's books? O a. $100,000 O b. $120,000 O c. $220,000 O d. $90,000
Transcribed Image Text:PC Law Firm provides services for Cougar Capital Corp and bills $100,000 for their services, which cost them $70,000 to provide. Cougar pays PC Law Firm with 100,000 shares of stock. Cougar's common stock has a par value of $2 per share. The common stock shares trade actively and was trading for $1.20 per share on the day Cougar issued the stock PC Law Firm. At what amount should the stock issuance be recorded on Cougar's books? O a. $100,000 O b. $120,000 O c. $220,000 O d. $90,000
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