tion.comm tpx Exercise 13-4 Stock issuance for noncash assets LO P1 Sudoku Compa

Q: tion.comm tpx Exercise 13-4 Stock issuance for noncash assets LO P1 Sudoku Compa

Event General Journal Debit Credit 1 Land $ 236,000.00 Building $ 361,000.00 Common stock ($8* 23,000 shares) $ 184,000.00 Paid in capital in excess of par value - Common stock (Balancing figure) $ 413,000.00 Event General Journal Debit Credit 1 Land $ 236,000.00 Building $ 361,000.00 Common stock ($8* 23,000 shares) $ 184,000.00 Paid in capital in excess of par value - Common stock (Balancing figure) $ 413,000.00

ID: 2469029 • Letter: T

Question

tion.comm tpx Exercise 13-4 Stock issuance for noncash assets LO P1 Sudoku Company issues 23,000 shares of $8 par value common stock in exchange for land and a building The land is valued at $236,000 and the building at $361,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building view transaction list view general journal Journal Entry Worksheet Record the issue of 23,000 shares of $8 par value common stock in exchange for land valued at $236,000 and a building valued at $361,000. Debit Credit Event General Journal

Explanation / Answer

Event

General Journal

Debit

Credit

Land

$ 236,000.00

Building

$ 361,000.00

Common stock

($8* 23,000 shares)

$ 184,000.00

Paid in capital in excess of par value - Common stock

(Balancing figure)

$ 413,000.00