Osbourne Company issued 50 000 shares of ordinary shares in exchange for manufacturing equipment. The equipment was valued at $1 000 000. The shares have a value of $18 per share. The entry to record this transaction would include which of the following line items?
A) Credit Ordinary share capital $1 000 000
B) Credit Gain on sale of ordinary shares $100 000
C) Debit Cash $100 000
D) Credit Ordinary share capital $900 000
Correct Answer:
Verified
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