chapter 20
Tridint Corporation is authorized to issue 100,000 shares of $5 par value common stock. The shares of stock are
not publicly traded. During 2020, the company completed the following transactions
Jan. 8, 2020 Issued 40,000 shares of common stock at $12 per share.
Jan. 30, 2020 Issued 10,500 shares of common stock in exchange for equipment with
an appraised value of $136,500.
Required
a. Prepare the journal entry on January 8, 2020.
b. Prepare the journal entry on January 30, 2020.
c. Would the answer to part b change if the stock were traded on a registered stock exchange at $14 per share
on January 30, 2020? If yes, prepare the journal entry on January 30, 2020
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