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Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
Edition 26ISBN: 978-1337498159Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
Edition 26ISBN: 978-1337498159 Exercise 10
Issuing stock for assets other than cash
On July 11, American Lift Corporation, a wholesaler of hydraulic lifts, acquired land in exchange for 5,000 shares of $5 par common stock with a current market price of $32. Journalize the entry to record the transaction.
On July 11, American Lift Corporation, a wholesaler of hydraulic lifts, acquired land in exchange for 5,000 shares of $5 par common stock with a current market price of $32. Journalize the entry to record the transaction.
Explanation
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On July 11, American Lift Corporation ac...
Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
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