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35
What is the JE for issuing Common Stock in exchange of Non-cash assets?
Given:
10,000 shares, $10 par in exchange of Land @ $50,000 and Building @ $90,000
Given:
10,000 shares, $10 par in exchange of Land @ $50,000 and Building @ $90,000
Land 50,000
Building 90,000
CS 100,000
PIC 40,000
Building 90,000
CS 100,000
PIC 40,000
Flashcard info:
Author: savhighsmith
Main topic: Accounting
Topic: General
School / Univ.: UGA
City: Athens
Published: 01.05.2010