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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
NW Stone Supply issued 50 shares of $15 par common stock in exchange for a piece of equipment with a current market value of $1,000. Which of the following is NOT part of the journal entry for this transaction?
A) Debiting equipment for $750
B) Crediting Common Stock for $750
C) Debiting equipment for $1,000
D) Crediting paid-in capital in excess of par-common for $250
Textbook 
Financial Accounting

Financial Accounting


Edition: 3rd
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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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