Use the Following Information to Answer the Question Below

question 181

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Use the following information to answer the question below.
When Calvert Corporation was formed on January 1, 2010, the corporate charter provided for 50,000 shares of $20 par value common stock. The following transactions were among those engaged in by the corporation during its first month of operation:
1. The corporation issued 200 shares of stock to its lawyer in full payment of the $5,000 bill for assisting the company in drawing up its articles of incorporation and filing the proper papers with the state agency.
2. The company issued 8,000 shares of stock at a price of $25 per share.
3. The company issued 7,000 shares of stock in exchange for equipment that had a fair market value of $160,000.
The entry to record transaction 3 is:

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Definitions:

World Interdependence

The mutual reliance between different countries and their economies, often leading to a global network of trade and communication.

Intellectual Capital

The intangible assets of an organization, including its knowledge, experiences, and intellectual property, that contribute to its competitive edge.

Knowledge Worker

An individual whose job involves handling or using information and knowledge, often in fields like IT, finance, and engineering.

Work-life Balance

The equilibrium achieved between professional obligations and personal life, contributing to overall well-being.