Question
Assume that, instead of transferring the machine,Whisperingdecides to grant14,000shares of its common stock ($10par) which has a fair value of $149,000in full settlement of the
Assume that, instead of transferring the machine,Whisperingdecides to grant14,000shares of its common stock ($10par) which has a fair value of $149,000in full settlement of the loan obligation. IfMetlockState Bank treatsWhispering's stock as a trading investment, prepare the entries to record the transaction for both parties.
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Financial Accounting An International Introduction
Authors: David Alexander, Christopher Nobes
3rd Edition
273709268, 273709267, 978-0273709268
