A corporation was organized in January 2006 with authorized capital of $10 par value common stock. On February 1, 2006, shares were issued at par for cash. On March 1, 2006, 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

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February 1, 2006

March 1, 2006

a.

Yes

No

b.

Yes

Yes

c.

No

No

d.

No

Yes