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Author Question: A company issued 700 shares of $2 par common stock in exchange for a piece of equipment with a ... (Read 57 times)

ssal

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on: Feb 18, 2020
A company issued 700 shares of $2 par common stock in exchange for a piece of equipment with a current market value of $24,000. Which of the following is the correct journal entry for this transaction?
◦
Equipment24,000​​
 Common Stock​1,400​
 Paid-in Capital in Excess of Par — Common​22,600​

◦
Equipment24,000​​
 Common Stock​700​
 Paid-in Capital in Excess of Par — Common​23,300​

◦
Equipment24,000​​
 Common Stock​24,000​

◦
Paid-in Capital in Excess of Par — Common22,600​​
Common Stock1,400​​
 Equipment​24,000​
Financial Accounting ¦ Kemp, Waybright ¦ 5th Edition
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Marked as best answer by ssal on Feb 18, 2020

joshraies

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Reply #1 on: Feb 18, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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ssal

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Reply 2 on: Feb 18, 2020
Great answer, keep it coming :)

rachel

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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