Five hundred shares of $25 par common stock was exchanged for a piece of equipment with a fair market value of $13,500. The journal entry to record the transaction would include a
A. credit to Equipment for $12,500.
B. debit to Common Stock for $12,500.
C. credit to Paid-In Capital in Excess of Par—Common for $1,000.
D. credit to Common Stock for $13,500
Stacey Warren - Expert brainly.com
Hey! We 've verified this expert answer for you, click below to unlock the details :)
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga.
Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus.
Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.
I got my questions answered at brainly.com in under 10 minutes. Go to brainly.com now for free help!
Not the answer you are looking for? Search for more explanations.
PLEEEEZ imretaking the tst
You have to understand this isn't easy not for you and not for us..I am trying to help you here and you just keep saying " HURRY, HURRY" like okay calm down..I am trying my best. The correct answer is C
im sorry its just tht i have limited time to finish lol
How many minutes left do you have and how many more questions do you have?