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P Company created a subsidiary S Company through internal expansion and transferred the following net assets to Company S. In return, Company Sissued 10,000 shares at $5 par common stock. The journal entry that would make to record this transaction would include a Cash Inventory Land Plant & Equipment Accumulated Depreciation Current Liabilities Bonds Payable Premium on Bonds Payable P Company Book Values 290,000 100,000 100,000 400,000 150,000 80,000 50,000 1,000 P Company Market Values 290,000 90,000 140,000 300,000 80,000 51,000 Credit to bonds payable of 50,000 Debit to bonds payable of 51,000 Debit to bonds payable of 50,000 Credit to bonds payable of 51,000 Click Save and Submit to save and submit. Click Save All Answers to small P Company created a subsidiary S Company through internal expansion, and transferred the following net assets to the new company in exchange for 10,000 shares of S's newly issued $5 par common stock Cash Inventory Land Plant & Equipment Accumulated Depreciation Current Liabilities Bonds Payable Premium on Bonds Payable P Company Book Values 290,000 100,000 100,000 400,000 150,000 80,000 50,000 1,000 P Company Market Values 290,000 90,000 140,000 300,000 80,000 51,000 The journal entry that would make to record this transaction would include a Debit to plant and equipment of 300,000 Debit to plant and equipment of 400,000 and credit to accumulated depreciation $150,000. Debit to accumulated depreciation of 150,000 Debit to plant and equipment of 250,000 Click Save and Sub P Company created a subsidiary S Company through internal expansion, and transferred the following net assets to the new company in exchange for 10,000 shares of S's newly issued $5 par common stock Cash Inventory Land Plant & Equipment Accumulated Depreciation Current Liabilities Bonds Payable Premium on Bonds Payable P Company Book Values 290,000 100,000 100,000 400,000 150,000 80,000 50,000 1,000 P Company Market Values 290,000 90,000 140,000 300,000 80,000 51,000 The journal entry that would make to record this transaction would include a O Debit to bonds payable of 50,000 Credit to bonds payable of 50,000 O Credit to premium on bonds payable of 1,000 Debit to bonds payable of 51,000 Click Save and Submit