Sudoku Company issues 21,000 shares of $7 par value common stock in exchange for land and a building. The land is valued at $239,000 and the building at $360,000. 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 21,000 shares of $7 par value common stock in exchange for land valued at $239,000 and a building valued at $360,000. Note: Enter debits before credits. Transaction Record entry General Journal Clear entry Debit Credit View general journal

Sudoku Company issues 21,000 shares of $7 par value common stock in exchange for land and a building. The land is valued at $239,000 and the building at $360,000. 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 21,000 shares of $7 par value common stock in exchange for land valued at $239,000 and a building valued at $360,000. Note: Enter debits before credits. Transaction Record entry General Journal Clear entry Debit Credit View general journal

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter20: Corporations: Organization And Capital Stock

Section: Chapter Questions

Problem 1CP: Prepare general journal entries for the following transactions, identifying each transaction by...

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22,000 shares reacquired by Sunland Corporation for $50 per share were exchanged for undeveloped land that has an appraise value of $1,630,000. At the time of the exchange, the common stock was trading at $57 per share on an organized exchange. (a) Prepare the journal entry to record the acquisition of land assuming that the purchase of the stock was originally recorded using the cost method. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit
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22,000 shares reacquired by Sunland Corporation for $50 per share were exchanged for undeveloped land that has an appraised value of $1,630,000. At the time of the exchange, the common stock was trading at $57 per share on an organized exchange. (a) Prepare the journal entry to record the acquisition of land assuming that the purchase of the stock was originally recorded using the cost method. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit
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