On October 15, 2020, James, a publicly traded company, issued 20,000 of its $1 par value...
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On October 15, 2020, James, a publicly traded company, issued 20,000 of its $1 par value common stock in exchange for a building. As of October 15, 2020, one share of James' stock was trading on a public stock exchange for $11.50 per share. As of October 15, 2020, a consensus of real estate agents determined the building's fair value was $236,000. Prepare the entry James should make on October 15, 2020. On October 15, 2020, James, a publicly traded company, issued 20,000 of its $1 par value common stock in exchange for a building. As of October 15, 2020, one share of James' stock was trading on a public stock exchange for $11.50 per share. As of October 15, 2020, a consensus of real estate agents determined the building's fair value was $236,000. Prepare the entry James should make on October 15, 2020.
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Related Book For
Intermediate Accounting Volume 2
ISBN: 9781119497042
12th Canadian Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
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