M FINAL Chegg Study | Guided Sc Sign In or Sign U x C | ezto.rnheducation.com/hm

Question

M FINAL Chegg Study | Guided Sc Sign In or Sign U x C | ezto.rnheducation.com/hm.tpx Apps Be Homel Brookyn Col AOL Mail (23) Pupil Path Davior ce HCM Dac consumer Servic N Mocnful Pulle Sudoku Company issues 25,000 shares of $9 par value common stock in exchange for land and a building. The land is valued at S241,000 and the building at $369,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building View transaction list Journal entry worksheet Record the issue of 25,000 shares of $9 par value common stock in exchange for land valued at $241,000 and a building valued at $369,000. Note: Enter debits before credits. General Journal Debit Credit Event View general journal Clear entry Record entry Type here to search

Explanation / Answer

Transaction General Journal Debit Credit 1 Land 2,41,000 Building 3,69,000 Common stock, $9 par value 2,25,000 Paid-in capital in excess of par value, common stock 3,85,000

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