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 70 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
YES! Correct, THANKS for helping me on my review

JaynaD87

  • Member
  • Posts: 368
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

Did you know?

Ether was used widely for surgeries but became less popular because of its flammability and its tendency to cause vomiting. In England, it was quickly replaced by chloroform, but this agent caused many deaths and lost popularity.

Did you know?

In Eastern Europe and Russia, interferon is administered intranasally in varied doses for the common cold and influenza. It is claimed that this treatment can lower the risk of infection by as much as 60–70%.

Did you know?

Sperm cells are so tiny that 400 to 500 million (400,000,000–500,000,000) of them fit onto 1 tsp.

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Common drainage devices; C. Jackson-Pratt. Common drainage devices; C. Jackson-Pratt.
Gas exchange Gas exchange
Common Blood Chemistry Tests Common Blood Chemistry Tests
Operator using personal protection equipment. Operator using personal protection equipment.
Offshore spawning stock biomass, Grand Bank Atlantic Cod since the early 1980s Offshore spawning stock biomass, Grand Bank Atlantic Cod since the early 1980s
Video: Regulation of GFR: autoregulation via myogenic mechanism Myogenic mechanism

For a complete list of videos, visit our video library