This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A company issued 700 shares of $2 par common stock in exchange for a piece of equipment with a ... (Read 116 times)

ssal

  • Hero Member
  • *****
  • Posts: 572
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
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by ssal on Feb 18, 2020

joshraies

  • Sr. Member
  • ****
  • Posts: 351
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.
Answer Preview
Only 25% of students answer this correctly


ssal

  • Member
  • Posts: 572
Reply 2 on: Feb 18, 2020
Great answer, keep it coming :)

amit

  • Member
  • Posts: 364
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

People often find it difficult to accept the idea that bacteria can be beneficial and improve health. Lactic acid bacteria are good, and when eaten, these bacteria improve health and increase longevity. These bacteria included in foods such as yogurt.

Did you know?

About 100 new prescription or over-the-counter drugs come into the U.S. market every year.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

Amoebae are the simplest type of protozoans, and are characterized by a feeding and dividing trophozoite stage that moves by temporary extensions called pseudopodia or false feet.

Did you know?

About 3% of all pregnant women will give birth to twins, which is an increase in rate of nearly 60% since the early 1980s.

Bacteria exchange DNA by several processes Bacteria exchange DNA by several processes
Common Flatwing (Austroargiolestes icteromelas: Argiolestinae) Common Flatwing (Austroargiolestes icteromelas: Argiolestinae)
Body Part, Method of Examination, and Equipment Used During the General Physical Examination Body Part, Method of Examination, and Equipment Used During the General Physical Examination
The official “Do Not Use” list as issued by The Joint Commission. The official “Do Not Use” list as issued by The Joint Commission.
Common Oral Lesions/Conditions Associated with HIV Infections and Treatment Guidelines Common Oral Lesions/Conditions Associated with HIV Infections and Treatment Guidelines
Common Antibiotics Causing Antibiotic Associated Diarrhea Common Antibiotics Causing Antibiotic Associated Diarrhea
Video: Structures that affect circulation - kidneys and blood volume and skeletal muscle pumping

For a complete list of videos, visit our video library