Marigold Corp. is authorized to issue 12000 shares of 6%, $100 par value preferred stock and 420000 shares of n par common stock with a stated value of $1 per share. If Marigold issues 6000 shares of preferred stock for land with an asking price of $690000 and a market value of $630000, which of the following would be the best journal entry for Marigold to record? Land Preferred Stock Paid-in Capital in Excess of Par - Preferred Land Preferred Stock Land Preferred Stock Land Preferred Stock Paid-in Capital in Excess of Par - Preferred 690000 600000 630000 630000 600000 90000 600000 630000 600000 30000

Marigold Corp. is authorized to issue 12000 shares of 6%, $100 par value preferred stock and 420000 shares of n par common stock with a stated value of $1 per share. If Marigold issues 6000 shares of preferred stock for land with an asking price of $690000 and a market value of $630000, which of the following would be the best journal entry for Marigold to record? Land Preferred Stock Paid-in Capital in Excess of Par - Preferred Land Preferred Stock Land Preferred Stock Land Preferred Stock Paid-in Capital in Excess of Par - Preferred 690000 600000 630000 630000 600000 90000 600000 630000 600000 30000

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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