Solution-What the entry to record the acquisition of the

What the entry to record the acquisition of the equipment

Reference no: EM132726327

Question - Dolly's Best issued 200 shares of its $10 common stock in exchange for used packaging equipment with a fair market value of $2,400. What the entry to record the acquisition of the equipment?

A. debit to Equipment for $2,000.

B. debit to Paid-In Capital in Excess of Par for $400.

C. credit to Common Stock for $2,400.

D. debit to Equipment for $2,400.

Reference no: EM132726327

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What the entry to record the acquisition of the equipment

Reference no: EM132726327

Reference no: EM132726327

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