During 2010 the tinsle company completed the following

Reference no: EM13613460

During 2010, the Tinsle Company completed the following transactions related to its property, plant and equipment accounts. (a) On March 18, Tinsle paid $480,000 for land, buildings and equipment in a lump- sum purchase. An appraisal that cost Tinsle $10,000 revealed fair market values of $200,000 for the land, $150,000 for the buildings and $150,000 for the equipment. (b) On August 11, Tinsle issued 20,000 shares of its $10 par value common stock in exchange for some equipment. The equipment's fair market value is estimated at $360,000 by an outside appraisal. On the date of the exchange, the stock market was being actively traded at $17 per share on a major stock exchange. Prepare the necessary journal entry to properly record each transaction.

Reference no: EM13613460

Questions Cloud

Stowers research issues bonds dated january 1 2011 that pay : stowers research issues bonds dated january 1 2011 that pay interest semiannually on june 30 and december 31. the bonds

Find a healt flux required in heating section to ensure a : a liquid food product is processed in a continuous flow sterilizer. the liquid enters the sterilizer at a temperature

A parallel-plate capacitor with area0300m2and plate : a parallel-plate capacitor with area 0.300 m2 and plate separation of2.00mm is connected to a 21.00-v battery.a what is

Pops corp has agreed to exchange an old computer system for : pops corp. has agreed to exchange an old computer system for a van from inclineinc. in addition incline will pay

During 2010 the tinsle company completed the following : during 2010 the tinsle company completed the following transactions related to its property plant and equipment

Calculate the magnetic force on one of these poles 609 m : stainless-steel poles were arranged by an artist for the purpose of producing an enhanced display of lightning in a

Alan while snooping around his grandmothers basement : alan while snooping around his grandmothers basement stumbled upon a shiny object protruding from under a stack of

For this discussion post describe the different reasons : for this discussion post describe the different reasons that the u.s. government local governments and corporations

If an electric field strength greater than 30 x 106 nc : consider the earth and a cloud layer 800 m above the planet to be the plates of a parallel-plate capacitor.a if the

User Account

All Pages