Business, 16.12.2019 22:31 xxxamslashxxx9
Osbourne, inc. issued 50,000 shares of common stock in exchange for manufacturing equipment. the equipment has a fair value of $1,210,000. the stock has a par value of $0.02 per share. the journal entry to record this transaction includes a
a. debit cash $5,000.
b. credit gain on sale of common stock $1,050,000.
c. credit paid-in capital $999,500.
d. credit common stock $1,000,000.
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Osbourne, inc. issued 50,000 shares of common stock in exchange for manufacturing equipment. the equ...
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