On August 1,a Corporation Issued 15,000 Shares of No-Par Common

question 57

Essay

On August 1,a corporation issued 15,000 shares of no-par common stock in exchange for a tract of land with a market value of $215,000.The common stock has a stated value of $10 per share.Prepare the general journal entry to record this transaction.

---

Definitions:

Feldspar

A group of rock-forming silicate minerals that make up about 41% of the Earth's continental crust by weight.

Terrestrial Planets

Terrestrial planets are those that are composed primarily of silicate rocks or metals, with solid surfaces, including Mercury, Venus, Earth, and Mars in our solar system.

Saturn

The sixth planet from the Sun, known for its extensive ring system, which is composed mainly of ice particles, rock debris, and dust.

Thermal Infrared Image

An image captured using sensors that detect infrared radiation, reflecting the temperature distribution of an area or object.