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Answer:
Sr. No Particulars Debit Credit
Land $ 65000
Profit & Loss Account $ 25,000
Corporation Stock $ 80,000
Cash $ 10,000
Explanation:
Recording of purchase of land for stock of $ 80,000 and cash $ 10,000 . As the value of land is $ 65,000 the loss is debited to the profit and loss account. the stock is recorded at the fair market value on the date.
Answer:
The Louisiana Purchase of 1803 brought into the United States about 828,000 square miles of territory from France, thereby doubling the size of the young republic. What was known at the time as the Louisiana Territory stretched from the Mississippi River in the east to the Rocky Mountains in the west and from the Gulf of Mexico in the south to the Canadian border in the north. Part or all of 15 states were eventually created from the land deal, which is considered one of the most important achievements of Thomas Jefferson’s presidency.
Explanation:
Adoption from different state
