22. Dailey Company is a publicly held corporation whose €1 par value ordinary shares are actively...
Dailey Company is a publicly held corporation whose €1 par value ordinary shares are actively traded at €22 per share. The company issued 3,000 shares to acquire land recently advertised at €82,000. When recording this transaction, Dailey Company will
a. debit Land for €82,000.
b. credit Share Capital-Ordinary for €66,000.
c. debit Land for €66,000.
d. credit Share Premium-Ordinary for €79,000.
Homework Answers
| Land | 82,000 | |
| Ordinary shares (1*3000) | 3,000 | |
| Share premium - Ordinary | 79,000 |
Option A is the answer
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