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majestico majestico
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6 years ago
Birch Company issued 200 shares of common stock with a par value of $10 per share in exchange for equipment with a fair market value of $4,000. Record the journal entry for the stock issuance.
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
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LaffioLaffio
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More solutions for this book are available here
Equipment   4,000
   Common Stock   2,000
   Paid-in Capital in Excess of Par Value-Common   2,000
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majestico Author
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Good timing, thanks!
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