Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. mockingjay, inc. issued 2,000 shares of $14 par co

Mockingjay, Inc. issued 2,000 shares of $14 par common stock in exchange for a truck...

90.2K

Verified Solution

Question

Accounting

Mockingjay, Inc. issued 2,000 shares of $14 par common stock in exchange for a truck with a current market value of $45,000. Which of the following is NOT part of the journal entry for this transaction?

a.) Crediting Common Stock for $28,000
b.) Crediting Common Stock for $45,000
c.) Crediting paid-in capital in excess of par-common for $17,000
d.) Debiting equipment for $45,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Geometry
1.2K views

1 A parabola has a vertex at 4 5 and also goes through 2 Show...

Statistics
1.2K views

Create a die, which will roll a 6 with probability of 50% and all other numbers...

Psychology
1.2K views

Determine whether the following statement is true or false. Select the best answer. Problem-solving is...

Physics
1.2K views

A block A of mass m moving with a velocity v along a frictionless horizontal...

Basic Math
1.2K views

ose that the weight in pounds of an airplane is a linear function of the...

Algebra
1.2K views

2 How long will it take an investment that pays 6 compounded annually to double...

Algebra
1.2K views

Scores on the SAT for the class of 2007 were roughly normal with a mean...

Accounting
1.2K views

Rena funds her 401k with $10,000 (pre-tax) in 2000. She expects her future ordinary...

Accounting
1.2K views

Accounting
1.2K views

Sheffield Company uses a periodic inventory system. Details for the inventory account for the month...

Accounting
1.2K views

Accounting
1.2K views

Mixed cost cost Using the cost information below, determine if each type of cost is...