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Fast2F Fast2F
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6 years ago
Five hundred shares of $26 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 Paid-In Capital in Excess of Par Value-Common for $500.
B) credit to Equipment for $13,000.
C) debit to Common Stock for $13,500.
D) credit to Common Stock for $13,500.
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
Author:
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AugustisAugustis
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Fast2F Author
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#2
6 years ago
Correcttttt
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#3
5 years ago
Happy to help Slight Smile
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