Dailey Company is a publicly held corporation whose $1 par value ordinary shares are actively traded at $22 per share.The company issued 2,000 shares to acquire land recently advertised at $55,000.When recording this transaction, Dailey Company will
A) debit Land for $55,000.
B) credit Share Capital-Ordinary for $44,000.
C) debit Land for $44,000.
D) credit Share Premium-Ordinary for $53,000.
Correct Answer:
Verified
Q84: If a company issues par-value ordinary shares,
Q85: Voltaire Corporation issued 2,000 ordinary shares of
Q85: The par value of shares
A) is legally
Q86: If Vickers Company issues 4,000 ordinary shares
Q88: Jahnke Corporation issued 5,000 shares of
Q90: Which of the following right of an
Q91: Limited liability of shareholders means that
A) the
Q93: Voltaire Corporation issued 2,000 ordinary shares of
Q96: When shares are issued for legal services,
Q97: If shares are issued for a non-cash
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents