User Account

All Pages

Determine the entry to record transaction would include

Assignment Help Financial Accounting
Reference no: EM132509017

Question 1: A corporation issued 6,000 shares of its $2 par value common stock in exchange for land that has a market value of $84,000. The entry to record this transaction would include:

Option 1: A credit to Common Stock for $84,000.

Option 2: A credit to Paid-in Capital in Excess of Par Value, Common Stock for $72,000.

Option 3: A debit to Land for $12,000.A debit to Common Stock for $12,000.

Option 4: A credit to Land for $12,000.

Reference no: EM132509017

Questions Cloud

What is shakira income if any on partial loan repayment : Shakira Inc. repaid Shakira $27,500 of the $137,500 outstanding loan. What is Shakira's income, if any, on the partial loan repayment?
Mixture of argon and oxygen gases : A mixture of argon and oxygen gases is maintained in a 8.31 L flask at a pressure of 2.71 atm and a temperature of 46 °C. If the gas mixture contains
Organizational innovation analysis : What are your organization's competitors' current trends of innovation? How does your organization's innovativeness compare to its competitors'?
What amount of job costs added to work in process inventory : Each month at a rate of 200% of the direct labor cost. What is the amount of job costs added to Work in Process Inventory during October?
Determine the entry to record transaction would include : A corporation issued 6,000 shares of its $2 par value common stock in exchange for land that market value of $84,000. The entry to record transaction would.
Why are the values of e0 reduction : Why are the values of E0 reduction on the two bases related to each other in such a simple way?
Metal chromium crystallizes in a body centered cubic : 1) The metal chromium crystallizes in a body centered cubic unit cell with one atom per lattice point. When X-rays with ? = 0.7107
Differentiate between leadership and management : Describe how leaders are able to influence and empower team members; identify important leadership characteristics and behaviors;
Molecules in order of increasing average molecular speed : 1) Arrange the following molecules in order of increasing average molecular speed. All are at the same temperature.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd