Kizspy Question: 42
(Choose 1 answer)
A corporation issued 10,000 shares of its $5 par value common stock in exchange for equipment that has a
market value of $120,000. The entry to record this transaction would include:
A. A debit to Common Stock for $50,000.
B. A debit to Land for $50,000.
C. A credit to Equipment for $50,000.
D. A credit to Paid-in Capital in Excess of Par Value, Common Stock for $70,000.
E. A credit to Common Stock for $120,000.
