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Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535 Exercise 49
Issuing stock for assets other than cash
On November 23, Elder Life Corporation, a wholesaler of hydraulic lifts, acquired land in exchange for 12,500 shares of $25 par common stock with a current market price of $38. Journalize the entry to record the transaction.
On November 23, Elder Life Corporation, a wholesaler of hydraulic lifts, acquired land in exchange for 12,500 shares of $25 par common stock with a current market price of $38. Journalize the entry to record the transaction.
Explanation
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Many times a corporation might pay other...
Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
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