Company A gave land to an employee as payment for services rendered. The land originally cost...
Company A gave land to an employee as payment for services rendered. The land originally cost $43,000 when the Company bought it, but it had a value of $52,000 on the date it was given to the employee.
Make the journal entry (or entries) necessary to record this transaction.
Select one:
a.
| Wage Expense | 43,000 | |
| Land | $43,000 |
b.
| Wage Expense | 43,000 | |
| Loss on Sale of Land | 9000 | |
| Land | $52,000 |
c.
| Wage Expense | 52,000 | |
| Land | $52,000 |
d.
| Wage Expense | 52,000 | ||
| Land | $43,000 | ||
| Gain on Sale of Land | $9,000 | ||
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Company A gave land to an employee as payment for services
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throughout December, January, and February. Prepaid Advertising is
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Employee salaries for the month of December totaling $6,200 will
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share equally. Lopez’s bonus expense is computed as $47,619.
1$2. Prepare the journal entry at December 31 to record the
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