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On June 1, Mason Company issued 8,000 shares of its $10 par common stock to Dixon for a tract of land. The stock had a
On June 1, Mason Company issued 8,000 shares of its $10 par common stock to Dixon for a tract of land. The stock had a fair market value of $18 per share on this date. On Dixon's last property tax bill, the land was assessed at $96,000. Mason should record an increase in Additional Paid-In Capital of a. $96,000. b. $64,000. c. $40,000. d. $16,000
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Accounting
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
23rd Edition
978-0324662962
