Write the journal entry-acquired land in exchange

Assignment Help Financial Accounting

Reference no: EM13788813

Literally can't remember how to do this. I have an idea but I don't think it's right.

On May 12th, a company acquired land in exchange for 1,000 shares of $20 par common stock with a current fair-market price of $73. Journalize this transaction.

On April 30th, 2010, Arlington Company issued $1,500,000 of 10-year, 8% bonds (face value $1,000 per bond) at 103, dated May 12th. Write the journal entry

Reference no: EM13788813

Questions Cloud

Adopted the reasonably foreseeable user rule : What standard of care applies to Able & Henderson's accounting work for Hambones, Inc.? Does Able & Henderson face any negligence liability to First State Bank or Sauce Supply in a state that has adopted the Ultramares rule? In a state that has adopt..

Define demography or difference between population dynamics : Define demography and explain the difference between population dynamics

Issues cause between less-developed countries : What kinds of issues could this technology cause between less-developed countries?

A modestly wealthy individual has left an estate to his son : ESTATE LIQUIDATION A modestly wealthy individual has left an estate to his son. The value of some assets are estimated to increase over time while others are estimated to decrease. Estimates of the values (in $1000) of the assets contained based on t..

Write the journal entry-acquired land in exchange : On May 12th, a company acquired land in exchange for 1,000 shares of $20 par common stock with a current fair-market price of $73. Journalize this transaction. On April 30th, 2010, Arlington Company issued $1,500,000 of 10-year, 8% bonds (face value ..

Making an image of a computer hard drive : You are located at an arson scene and have started making an image of a computer hard drive. The fire re-kindles and the firefighters are having problems extinguishing the fire

Analyze a specific business problem related to communication : analyze a specific business problem related to communication in business and propose research-based recommendations to solve it.

History of capital punishment in the united states : A brief history of capital punishment in the United States. Include case law. An explanation of the constitutional ban on "cruel and unusual punishment," including the four primary dimensions as interpreted by the Court

Design and implement a basic graphical user interface : Design and implement a basic graphical user interface (GUI) program for recording information about a family tree -

User Account

All Pages