Sudoku Company issues 7,000 shares of $7 par value common stock in exchange for land and a building. The land is valued at $45,000 and the building at $85,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building.
Sudoku Company issues 7,000 shares of $7 par value common stock in exchange for land and a building. The land is valued at $45,000 and the building at $85,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building.
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 7Q: A corporation issues 6,000 shares of $1 par value stock for a parcel of land valued at $12,000....
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Sudoku Company issues 7,000 shares of $7 par value common stock in exchange for land and a building.
The land is valued at $45,000 and the building at $85,000. Prepare the
the stock in exchange for the land and building.
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