Eure Co. acquired a machine in exchange for 10,000 of its own shares with par value of 10. Per share and fair value of 130 per share.    Case 1: the cash selling price of the machine is 1,400,000. Provide the journal entry.    Case 2: the cash selling price of the machine is not determinable. Provide the journal entry.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Eure Co. acquired a machine in exchange for 10,000 of its own shares with par value of 10. Per share and fair value of 130 per share. 

 

Case 1: the cash selling price of the machine is 1,400,000. Provide the journal entry

 

Case 2: the cash selling price of the machine is not determinable. Provide the journal entry.

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