A corporation issued 6,200 shares of $10 par value common stock in exchange for some land with a market value of $94,000. The entry to record this exchange is:

Debit Land $94,000; credit Common Stock $62,000; credit Paid-In Capital in Excess of Par Value, Common Stock $32,000

Explanation:

Preparation of what The entry to record this exchange is:

Debit Land $94,000

Credit Common Stock $62,000

(6,200*$10)

Credit Paid-In Capital in Excess of Par Value, Common Stock $32,000

($94,000-$62,000)

(To record exchange)

answer; /// i believe that the correct answer is (b) money set aside for emergency repairs;

forbearance of student loan payments. under forbearance, your loan payments are postponed (or reduced) but interest continues to accrue during the period of forbearance. if you don't pay the interest during that period, the interest may be “capitalized,” which means it is added to your principal balance.