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anonymous

  • one year ago

When stock is exchanged for noncash assets, A. debit the asset for prior book value and credit Common Stock for cash received. B. debit assets for market value and credit Common Stock for par value; if needed, credit Paid-In Capital in Excess of Par. C. debit assets for market value and credit Common Stock for market value. D. debit assets for par value and credit Common Stock for par value.

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