Issuing stock for assets other than cash On November 23, Elder Lift Corporation, a wholesaler of hydraulic lifts, acquired land in exchange for 16,000 shares of $10 par common stock with a current market price of $14. Journalize the entry to record the transaction. If an amount box does not require an entry, leave it blank. 88 Nov. 23 Land V Common Stock ✓ Paid-In Capital in Excess of Par-Common Stock Feedback ✓ Check My Work Recall if the fair value of an asset that is being acquired by issuing stock cannot be determined, the fair market price of the stock issued is used as the value for recording.

Issuing stock for assets other than cash On November 23, Elder Lift Corporation, a wholesaler of hydraulic lifts, acquired land in exchange for 16,000 shares of $10 par common stock with a current market price of $14. Journalize the entry to record the transaction. If an amount box does not require an entry, leave it blank. 88 Nov. 23 Land V Common Stock ✓ Paid-In Capital in Excess of Par-Common Stock Feedback ✓ Check My Work Recall if the fair value of an asset that is being acquired by issuing stock cannot be determined, the fair market price of the stock issued is used as the value for recording.

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Description: Chap 12 Q.1 World History: Cul... P Sp23 Math 1080-...eBookNov. 23 LandShow Me HowIssuing stock for assets other than cashOn November 23, Elder Lift Corporation, a wholesaler of hydraulic lifts, acquired land in exchange for 16,000 shares of $10 par

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter20: Corporations: Organization And Capital Stock

Section: Chapter Questions

Problem 1CP: Prepare general journal entries for the following transactions, identifying each transaction by...

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please record journal entries for both parts and show workings thanks
v2.cengagenow.com Glassdoor - Get Hired.... Northeast Mississippi C... S Click here to access Ce... CengageNOW Journalize the following transactions for Batson Co.: Sept. 1 Batson Co. purchased 1,200 of the 100,000 outstanding shares of Michael Corp. stock for $20.75 per share plus a $70 commission. Dec. 31 Michael Corp.'s total earnings for the period are $84,000. 31 Michael Corp. paid a total of $40,000 in cash dividends to shareholders of record. If no entry is required, select "No Entry Required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. Sept. 1 Dec. 31 Dec. 31 Previous Next Email Instructor Submit Test for Grading All work saved.
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Issuing Stock for Assets Other Than Cash On November 23, Elder Lift Corporation, a wholesaler of hydraulic lifts, acquired land in exchange for 26,000 shares of $10 par common stock with a current market price of $18. Journalize the entry to record the transaction. If an amount box does not require an entry, leave it blank.
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