Issuing Common Stock for Assets or Services Video Lessons

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Problem: Lynn Lipincott invested land valued at $5,000 in her business. This transaction would be recorded by: a. Dr. Cash 5,000    Cr. Capital Stock     5,000 b. Dr. Land 5,000    Cr.  Capital Stock     5,000 c. Dr. Land 5,000    Cr. Service Revenue     5,000 d. Dr. Capital Stock 5,000    Cr. Land     5,000

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Problem Details

Lynn Lipincott invested land valued at $5,000 in her business. This transaction would be recorded by:

a. Dr. Cash 5,000    Cr. Capital Stock     5,000

b. Dr. Land 5,000    Cr.  Capital Stock     5,000

c. Dr. Land 5,000    Cr. Service Revenue     5,000

d. Dr. Capital Stock 5,000    Cr. Land     5,000

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