7. A company sold 10,000 shares of its own $1 par value common stock for $12,000. The entry to record the sale would include a
8. ABC Company sold a machine for $56,000 that originally cost $306,000. The balance of the Accumulated Depreciation account related to this equipment was $240,000. The entry to record the gainor loss on the disposal of the machine would include.
9. Company A gave land to an employee as payment for services rendered. The land originally cost $43,000 when the Company bought it, but it had a value of $52,000 on the date it was given to the employee. Make the journal entry (or entries) necessary to record this transaction.