Question
George Company issued 25,000 shares of $5 par value common stock in exchange for a building with a current fair value of $500,000. In recording
George Company issued 25,000 shares of $5 par value common stock in exchange for a building with a current fair value of $500,000. In recording this transaction, what amount should be entered in the Additional Paid-in-Capital in Excess of Par Value account?
A. $375,000 B. $125,000 C. $500,000 D. $487,500
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Computerized Accounting With QuickBooks 2014
Authors: Kathleen Villani, James B. Rosa, Blanche Ettinger
1st Edition
0763860239, 9780763860233
