Sudoku Company issues 7,000 shares of $7 par value common stock in exchange for land and a building. The land is valued at $45,000 and the building at $85,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building.
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Sudoku Company issues 7,000 shares of $7 par value common stock in exchange for land and a building.
The land is valued at $45,000 and the building at $85,000. Prepare the
the stock in exchange for the land and building.
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- 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 building. 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.Sudoku Company issues 20,000 shares of $8 par value common stock in exchange for land and a building. The land is valued at $226,000 and the building at $376,000. 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 20,000 shares of $8 par value common stock in exchange for land valued at $226,000 and a building valued at $376,000. Note: Enter debits before credits. Transaction 1 General Journal Debit CreditSudoku Company issues 18,000 shares of $8 par value common stock in exchange for land and a building. The land is valued at $227,000 and the building at $365,000. 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 18,000 shares of $8 par value common stock in exchange for land valued at $227,000 and a building valued at $365,000. Note: Enter debits before credits. Transaction 1 Record entry General Journal Clear entry Debit Credit View general journal
- Sudoku Company issues 28,000 shares of $9 par value common stock in exchange for land and a building. The land is valued at $237,000 and the building at $379,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building. Sudoku Company issues 28,000 shares of $9 par value common stock in exchange for land and a building. The land is valued at $237,000 and the building at $379,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building. View transaction Est View journal entry worksheet Transaction 1 g No A General Journal Land Building Common stock, 39 par value Paid in capital in excess of par value, common stock Debit 237.000 379,000 CreditExercise 11-6 (Algo) Stock issuance for noncash assets LO P1 Sudoku Company issues 30,000 shares of $7 par value common stock in exchange for land and a building. The land is valued at $236,000 and the building at $364,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building. No A Transaction 1 Answer is complete but not entirely correct. General Journal Land Building Common stock, $7 par value Paid-in capital in excess of par value, common stock ✓ Debit 236,000✔ 364,000 Credit 210,000 210,000 xSudoku Company issues 25,000 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 $379,000. 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 $7 par value common stock in exchange for land valued at $238,000 and a building valued at $379,000. Note: Enter debits before credits Record entry General Journal Clear entry Debit Credit View general journal
- Sudoku Company issues 22,000 shares of $9 par value common stock in exchange for land and a building. The land is valued at $242,000 and the building at $368,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building. View transaction list Journal entry worksheet レ A Record the issue of 22,000 shares of $9 par value common stock in exchange for land valued at $242,000 and a building valued at $368,000. Note: Enter debits before credits. Transaction General Journal Debit Credit 1Smith Company exchanges assets to acquire a building. The market price of the Smith stock on the exchange date was $20 per share and the building’s book value on the books of the seller was $211,000.Which of the following journal entries is correct for Smith Company when Smith issues 11,100 shares of $10 par value common stock and pays $21,100 cash in exchange for the building? Please see picture attached.Loretta Inc. issues 2,000 shares of preferred stock in exchange for land and building that have a fair value of $50,000 and $80,000 respectively. What is included in the journal entry to record this transaction? a. A debit to Land and Building for $130,000 b. A debit to Land for $80,000 c. A credit to Preferred Stock for $130,000 d. A credit to Preferred Stock for $2,000
- 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 CreditThe company’s charter authorizes 1,000,000 shares of common stock and 100,000 shares of preferred stock and the following are the transactions for consideration: KY Jewelers purchased a piece of land from the original owner. In payment for the land, KY Jewelers issues 300,000.00 shares of common stock with $1.00 par value. The land has been appraised at a market value of 1,200,000.00 Prepare the Journal entriesOn January 15, Pinkney, Incorporated, issued 10,000 shares of $10 par value common stock in exchange for land and a building. Five years ago, the stockholder purchased the land for $40,000 and constructed the building at a cost of $90,000. At the time of the stock issuance, the land and the building had fair market values of $45,000 and $95,000, respectively. Complete the necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns. View transaction list Journal entry worksheet 1 On January 15, Pinkney, Inc., issued 10,000 shares of $10 par value common stock in exchange for land and a building. Five years ago, the stockholder purchased the land for $40,000 and constructed the building at a cost of $90,000. At the time of the stock issuance, the land and the building had fair Note: Enter debits before credits. Date Jan 15 General Journal Debit Credit
