The Maker Company exchanged 25,000 shares of its own $50 par value common stock for a turret lathe from Turner Company.The market value of the Maker Company stock was $68 per share at the date of exchange.The equipment had a carrying value of $1,625,000.
Record the exchange on the books of Maker Company in general journal form.

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The Answer of The Maker Company exchanged 25,000 shares of its own $50 par value common stock for a turret lathe from Turner Company.The market value of the Maker Company stock was $68 per share at the date of exchange.The equipment had a carrying value of $1,625,000.
Record the exchange on the books of Maker Company in general journal form.

The Maker Company Exchanged 25,000 Shares of Its Own $50