A corporation issued 6,000 shares of its $1 par value ordinary stock in exchange for land that has a market value of $84,000. The entry to record this transaction would include:
A: A debit to Ordinary Stock for $6,000.
B: A debit to Land for $6,000.
C: A credit to Land for $84,000.
D: A credit to Share Premium, Ordinary Stock for $78,000.
A: A debit to Ordinary Stock for $6,000.
B: A debit to Land for $6,000.
C: A credit to Land for $84,000.
D: A credit to Share Premium, Ordinary Stock for $78,000.
举一反三
- A company issued 20,000 shares of its $1 par value ordinary stock for cash. The price is $10 per share. The entry to record this transaction would be: A: Debit Cash $200,000; credit Ordinary Stock $20,000; credit Share Premium, Ordinary Stock $180,000. B: Debit Cash for $200,000; credit Ordinary Stock $200,000 C: Debit Ordinary Stock $20,000; debit Share Premium, Ordinary Stock $180,000; credit Cash $200,000. D: Debit Ordinary Stock $20,000; credit Cash $20,000.
- Company A issued 2,500 shares of its no par ordinary stock for cash. The price is $10 per share. The entry to record this transaction would be: A: Debit Cash $25,000; credit Share Premium in Excess of Par Value $25,000. B: Debit Cash $25,000; credit Ordinary Stock $25,000. C: Debit Ordinary Stock $25,000; credit Cash $25,000. D: Debit Treasury Stock $25,000; credit Cash $25,000.
- How many people were homeless due to the earthquake and tsunami How many people were homeless due to the earthquake and tsunami A．2,000. B．6,000. C．9,000. D．380,000. A: 2,000. B: 6,000. C: 9,000. D: 380,000.
- The entry to sell 100 shares of $12 par common stock at $17 per share would include a: （ ） A: $1,200 debit to Cash. B: $500 debit to Additional Paid-in Capital. C: $1,200 credit to Common Stock. D: $1,700 credit to Common Stock.
- R company sold old equipment for $25 000. The equipment had a cost of $50 000 and accumulated depreciation of $30 000. The entry to record the sale of the equipment would include a ( ). A: loss on disposal of $25 000 B: gain on disposal of $25 000 C: loss on disposal of $5 000 D: gain on disposal of $5 000