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Home Q & A Board Other Fields Homework Help Business Accounting
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bravata bravata
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7 years ago
Five hundred shares of $25 par common stock were exchanged for a piece of equipment with a current market value of $13,500. The journal entry to record the transaction would include a:
A) debit 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.
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Financial Accounting

Financial Accounting


Edition: 3rd
Authors:
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largerthanlifelargerthanlife
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7 years ago
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bravata Author
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7 years ago
This is a life saver
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