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XYZ Company issued at par 300 shares of $2 par common stock in exchange for land with a market value of $20,000. DATE Debit Credit X/X

Accounting (Text Only)

26th Edition

ISBN:9781285743615

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter15: Investments And Fair Value Accounting

Section: Chapter Questions

Problem 15.4CPP: Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31,...

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Concept explainers

Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.

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XYZ Company issued at par 300 shares of $2 par common stock in exchange for land with a market value of $20,000.

DATE	Debit	Credit
X/X

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