Business, 27.08.2019 04:30, brookedeanovich

Allam, inc. contracted for services to be provided over a period of time with full payment in allam's $2 par common stock when the service is completed. at the time of the agreement, allam stock was trading at $20 per share. the agreed-upon total value of the contract is $20,000. when the service was completed, allam's stock price was $25 per share. therefore, allama. recognizes $25,000 of expense. b. increases the common stock account $1,600.c. increases contributed capital in excess of par $23,000.d. debits a liability for $25,000.

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Allam, inc. contracted for services to be provided over a period of time with full payment in allam'...