When Stock Is Exchanged for Non-Cash Assets

When stock is exchanged for non-cash assets:

A) debit the asset for prior book value;credit Common Stock for cash received.
B) debit assets for market value;credit Common Stock for par value and,if needed,Paid-in Capital in Excess of Par Value-Common.
C) debit assets for market value;credit Common Stock for market value.
D) debit assets for par value;credit Common Stock for par value.