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14 January, 00:02

Sunrise Online issued 500 shares of its $10 common stock in exchange for equipment with a fair market value of $7,500. The entry to record the transaction would include a

A. debit to Equipment for $5,000.

B. debit to Common Stock for $5,000.

C. credit to Paid-In Capital in Excess of Par Value for $2,500.

D. credit to Common Stock Subscribed for $5,000.

+2
Answers (2)
  1. 14 January, 02:44
    0
    The correct answer is letter C. Credit to Paid in Capital in Excess of Par Value for $2,500.
  2. 14 January, 03:31
    0
    The answer is d I had this already
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Home » Business » Sunrise Online issued 500 shares of its $10 common stock in exchange for equipment with a fair market value of $7,500. The entry to record the transaction would include a A. debit to Equipment for $5,000. B. debit to Common Stock for $5,000. C.
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