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Maize Corporation Pays $500,000 for 100,000 Shares to Acquire 40

Question 82

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Maize Corporation pays $500,000 for 100,000 shares to acquire 40% common stock of Teal Investments Inc.on January 5,2016.Maize Corporation sells 10,000 shares for $40,000 on January 6,2016.Which of the following is the correct journal entry for the transaction on January 6,2016?


A) Maize Corporation pays $500,000 for 100,000 shares to acquire 40% common stock of Teal Investments Inc.on January 5,2016.Maize Corporation sells 10,000 shares for $40,000 on January 6,2016.Which of the following is the correct journal entry for the transaction on January 6,2016? A) B) C) D)
B) Maize Corporation pays $500,000 for 100,000 shares to acquire 40% common stock of Teal Investments Inc.on January 5,2016.Maize Corporation sells 10,000 shares for $40,000 on January 6,2016.Which of the following is the correct journal entry for the transaction on January 6,2016? A) B) C) D)
C) Maize Corporation pays $500,000 for 100,000 shares to acquire 40% common stock of Teal Investments Inc.on January 5,2016.Maize Corporation sells 10,000 shares for $40,000 on January 6,2016.Which of the following is the correct journal entry for the transaction on January 6,2016? A) B) C) D)
D) Maize Corporation pays $500,000 for 100,000 shares to acquire 40% common stock of Teal Investments Inc.on January 5,2016.Maize Corporation sells 10,000 shares for $40,000 on January 6,2016.Which of the following is the correct journal entry for the transaction on January 6,2016? A) B) C) D)

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