Troy, a publicly-traded company, acquired 10 acres of land from Trojan. Troy gave Trojan 10,000 shares...

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Troy, a publicly-traded company, acquired 10 acres of land from Trojan. Troy gave Trojan 10,000 shares of Troy's $1 par value common stock in exchange for the land. At the time of the acquisition, Troy's stock had a market value of $14 per share while the assessed value of Trojan's land was $110,000. Prepare the entry Troy should make to record its acquisition of the land. Trojan acquired 25 acres of land from Troy. Trojan gave Troy 5,000 shares of Trojan's $1 par value common stock in exchange for the land. At the time of the acquisition, Trojan's stock had a market value of $10 per share while the assessed value of Troy's land was $46,000. Trojan is NOT a publicly-traded company. Prepare the entry Trojan should make to record its acquisition of the land. On 12-31-19, Acme purchased a machine. Acme signed a $150,000 zero-interest bearing note. The note is payable in full on 12-31-21. Assume an acceptable interest rate on similar notes was 4%. On 12-31-19, Acme incurred and paid $12,000 to have the machine installed in its sales office. In this problem, you can ignore depreciation - we will get to that in chapter 11. Prepare the entries Acme should make related to this machine on: a. 12-31-19. b. 12-31-20. C. 12-31-21. Troy, a publicly-traded company, acquired 10 acres of land from Trojan. Troy gave Trojan 10,000 shares of Troy's $1 par value common stock in exchange for the land. At the time of the acquisition, Troy's stock had a market value of $14 per share while the assessed value of Trojan's land was $110,000. Prepare the entry Troy should make to record its acquisition of the land. Trojan acquired 25 acres of land from Troy. Trojan gave Troy 5,000 shares of Trojan's $1 par value common stock in exchange for the land. At the time of the acquisition, Trojan's stock had a market value of $10 per share while the assessed value of Troy's land was $46,000. Trojan is NOT a publicly-traded company. Prepare the entry Trojan should make to record its acquisition of the land. On 12-31-19, Acme purchased a machine. Acme signed a $150,000 zero-interest bearing note. The note is payable in full on 12-31-21. Assume an acceptable interest rate on similar notes was 4%. On 12-31-19, Acme incurred and paid $12,000 to have the machine installed in its sales office. In this problem, you can ignore depreciation - we will get to that in chapter 11. Prepare the entries Acme should make related to this machine on: a. 12-31-19. b. 12-31-20. C. 12-31-21.

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Okay lets solve these accounting problems one by one 1 Troys acquisition of land from Trojan Entry f... View the full answer