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inn [45]
3 years ago
6

Sudoku Company issues 21,000 shares of $8 par value common stock in exchange for land and a building. The land is valued at $237

,000 and the building at $368,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building.
Business
1 answer:
Katena32 [7]3 years ago
4 0

Answer and Explanation:

The journal entry to record issuance of the stock in exchange for the land and building is given below:

Land $237,000

Building $368,000

           To Common stock, $8 par value $168,000

           To Paid-in capital in excess of par value, common stock $437,000

(Being the issuance of the stock in exchange for the land and building is recorded)

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