Ron_W5DQ2 - Post Ref. Debit Credit Building 500,000...

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Ron_E13-16 Case A - Issue stock and buy the assets in separate transactions: Journal Date Accounts and Explanations Post Ref. Debit Credit Cash (10,000 * $70) 700,000 Common Stock (10,000 * $10) 100,000 Paid-in capital in excess of par (10,000 * $60) 600,000 Building 500,000 Equipment 200,000 Cash 700,000 Case B - Issue Stock to acquire the assets: Journal Date Accounts and Explanations
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Unformatted text preview: Post Ref. Debit Credit Building 500,000 Equipment 200,000 Common Stock (10,000 * $10) 100,000 Paid-in capital in excess of par (10,000 * $60) 600,000 The balances in the accounts are: Building $500,000 $500,000 Equipment 200,000 200,000 Common Stock 100,000 100,000 Paid-in Capital in Excess of Par 600,000 600,000...
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This note was uploaded on 01/05/2011 for the course ACC 205 taught by Professor Robertcarr during the Winter '10 term at Ashford University.

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Ron_W5DQ2 - Post Ref. Debit Credit Building 500,000...

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