Batalla Company issued 10,000 shares of its $5 par value common stock having a market value of
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Question:
Batalla Company issued 10,000 shares of its $5 par value common stock having a market value of $25 per share for land with an appraised value of $300,000. Which of the following is true?
Cash is debited for $250,000
Additional Paid-in Capital is credited for $250,000
Additional Paid-in Capital is credited for $200,000
Land is debited for $300,000
Related Book For
Horngrens Financial and Managerial Accounting The Financial Chapters
ISBN: 978-0134486857
6th edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
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