M FINAL Not secure l ezto.mheducation.com/hm.tpx . App Bt Hoe el Broolom call AO

ID: 2598631 • Letter: M

Question

M FINAL Not secure l ezto.mheducation.com/hm.tpx . App Bt Hoe el Broolom call AOL Mal (23) Pupr Path Dayforce HCM D ac consumer Se vic Mex can Pulled Pork ( LU C&B; Horne Page e AP 010 Sudoku Company issues 25,000 shares of 59 par value common stock in exchange for land and a building The land is valued at $241,000 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 Event General Journal Debit Credit and ommon stock, $9 par value Paid-in capital in excess of par value, common stock

Explanation / Answer

General Journal

Debit

Credit

Land

241000

Building

369000

Common Stock, $9 par value

225000

Paid in capital in excess of par value, common stock

385000

issues 7000 shares of $7 par value common stock in exchange for land and a building