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Name: Sudoku Company issues 32,000 shares of $8 par value common stock in ex
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Description: Sudoku Company issues 32,000 shares of $8 par value common stock in exchange for land and a building. The land is valued at $233,000 and the building at $377,000. Prepare the journal entry to record issuance of the stock in exchange for the land and

Business

Accounting

Record the issue of 32,000 shares of $8 par value common stock in exchange for land valued at $233,000 and a building valued at $377,000.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter15: Contributed Capital

Section: Chapter Questions

Problem 1MC

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