On July 10, 201X, Quincy Corporation issued 2,400 shares of common stock with a par value of $104 in exchange for equipment with a fair market value of $328,000 Journalize the appropriate entry ...

On July 10, 201X, Quincy Corporation issued 2,400 shares of common stock with a par value of

Question:

On July 10, 201X, Quincy issued 2,400 shares of with a of $104 in exchange for equipment with a fair market value of $328,000. Journalize the appropriate entry.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...