Barton Company is a publicly held corporation whose $1 par value stock is actively traded at $33 per share. THe o acquire land recently advertised at $100,000. When recording this transaction, Barton Company will O a debit Land for $100,000 Ob.credit Common Stous for $96,000 mpany

Barton Company is a publicly held corporation whose $1 par value stock is actively traded at $33 per share. THe o acquire land recently advertised at $100,000. When recording this transaction, Barton Company will O a debit Land for $100,000 Ob.credit Common Stous for $96,000 mpany

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.

Question

Barton Company is a publicly held corporation whose $1 par value stock is actively traded at $33 per share. The company issued 3,000 shares of stock
to acquire land recently advertised at $100,000. When recording this transaction, Barton Company will
O a debit Land for $100,000
Ob.credit Common Stous for $96,000
Oc debit Land for $96,000
Od debit Land for $99,000

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