Login|Contact Us
Question and Answer

Finance

Ask a Finance Question, Get an Answer ASAP!

  • Ask A Question
  • Browse Answers
  • Meet The Experts
  • How JustAnswer Works

A corporation issued 5,000 shares of $10 par value common st

 

Customer Question

A corporation issued 5,000 shares of $10 par value common stock in exchange for some land with a market value of $60,000. The entry to record this exchange is:


Read more: http://www.justanswer.com/questions/2836b-9-collins-and-farina-are-forming-a-partnership-collins-is#ixzz0en7BKzX7

 

Optional Information:
Level/Year: 2
Subject: Accounting

Submitted: 1156 days and 7 hours ago.
Category: Finance
Value: $15
Status: CLOSED
Picture
Expert:  Falak Naz replied 1156 days and 7 hours ago.

hi boop,

 

Land========dr.==============60,000

Common Stock=========cr.==============50,000

Premium on issue=======cr.==============10,000

to record the land on fair value and issuance of share at premium

Falak Naz40219.5653884259

 
Tweet

7 Financial Professionals are Online Right Now

Ask Your Question Now
Finance Questions Date Submitted
RA-211 3/24/2013
I have four 20 question papers regarding Principles of Finance. 3/20/2013
I have received money from the person I purchased my house 3/18/2013
I am writing to inquire about timelines for withdrawing RRSPs 3/14/2013
I've been in the surety underwriting filed for 20 years and 3/11/2013
i recently purchased a new vehicle on 2/5/13 and gave them 3/11/2013
My company is chapter s llc. I'm looking at purchasing a car 3/10/2013
In 2012, I raised $500,000 from 2/28/2013
1. Crypton Electornics has a capital structre consisting of 2/26/2013
The final project involves applications in personal finance. 2/25/2013
RSS
Next 10 >
Ask A Financial Professional
Type Your Finance Question Here...
characters left:

Top Finance Experts

See More Financial Professionals

In The News

Nbc
Washington Post
New York Times
Cnn
Learn More

How It Works

  • Ask an Expert
  • Get a Professional Answer
  • Ask Followup Questions
  • 100% Satisfaction Guarantee
Learn More
close
Find Expert answers related to your question.
Sign up using email
We will never post anything without your permission.
Already have an account? Sign in

Ask a Financial Professional

Get a Professional Answer. 100% Satisfaction Guaranteed.
239 Financial Professionals are Online Now
Type Your Finance Question Here...
characters left:
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.
Truste
Contact Us | Terms of Service | Privacy & Security | About Us
© 2003-2013 JustAnswer LLC