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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
Ironworks, Inc. issued 200 shares of $12 par common stock in exchange for a piece of equipment with a current market value of $3,000. Which of the following is NOT part of the journal entry for this transaction?
A) Debiting equipment for $3,000
B) Crediting Common Stock for $3,000
C) Crediting paid-in capital in excess of par-common for $600
D) Crediting Common Stock for $2,400
Textbook 
Financial Accounting

Financial Accounting


Edition: 3rd
Authors:
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antonio_johnantonio_john
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7 years ago
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Massachusetts Institute of Technology
-- Accounting

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bravata Author
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#2
6 years ago
Thank you so much

I wish I knew about this years ago
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