Question
10,000 shares of Common Stock is issued for land with an appraised value of $100,000. The stock is $5 Par value with a current market
10,000 shares of Common Stock is issued for land with an appraised value of $100,000. The stock is $5 Par value with a current market value of $9 per share. The entry to record this transaction would include
| a credit to Common Stock for $90,000 | ||
| a credit to Common Stock for $100,000 | ||
| a debit to Land for $100,000 | ||
| a debit to Land for $90,000 |
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Auditing For Business Clause-Based Requirements
Authors: Robin Briar
1st Edition
B09PMDJ956, 979-8796274712
