Sudoku Company issues 17,000 shares of $7 par value common stock in exchange for land and a building. The land is valued at$238,000 and the building at $380,000. Prepare the journal entry to record issuance of the stock in exchange for the land andbuilding.View transaction listJournal entry worksheetA>Record the issue of 17,000 shares of $7 par value common stock in exchangefor land valued at $238,000 and a building valued at $380,000.Note: Enter debits before credits.General JournalDebitCreditTransaction1Clear entryView general journalRecord entry

A journal entry is a core and foremost record that a transaction has taken place in the business.…

Sudoku Company issues 17,000 shares of $7 par value common stock in exchange for land and a building. The land is valued at $238,000 and the building at $380,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building.

Sudoku Company issues 17,000 shares of $7 par value common stock in exchange for land and a building. The land is valued at $238,000 and the building at $380,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building.

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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Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.

Question

Sudoku Company issues 17,000 shares of $7 par value common stock in exchange for land and a building. The land is valued at
$238,000 and the building at $380,000. Prepare the journal entry to record issuance of the stock in exchange for the land and
building.
View transaction list
Journal entry worksheet
A
>
Record the issue of 17,000 shares of $7 par value common stock in exchange
for land valued at $238,000 and a building valued at $380,000.
Note: Enter debits before credits.
General Journal
Debit
Credit
Transaction
1
Clear entry
View general journal
Record entry

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