Answered: On April 10, a company acquired land in…

On April 10, a company acquired land in exchange for 1,000 shares of $20 par common stock with a current market price of $75.

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter6: Investing And Financing Activities

Section: Chapter Questions

Problem 2.5C

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On April 10, a company acquired land in exchange for 1,000 shares of $20 par common stock with a current market price of $73. Journalize this transaction. If an amount box does not require an entry, leave it blank.
On April 10, a company acquired land in exchange for 3,000 shares of $24 par common stock with a current market price of $71. Journalize this transaction. If an amount box does not require an entry, leave it blank. Apr. 10