Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. exercise 11-6(algo) stock issuance for noncash ass

Exercise 11-6(Algo) Stock issuance for noncash assets LO P1 Sudoku Company...

80.2K

Verified Solution

Question

Accounting

Exercise 11-6(Algo) Stock issuance for noncash assets LO P1
Sudoku Company Issues 22,000 shares of $5 par value common stock in exchange for land and a building. The land is valued at $235,000 and the bullding at $361,000. Prepare the journal entry to record issuance of the stock In exchange for the land and bullding.
Journal entry worksheet
A
Record the issue of 22,000 shares of $5 par value common stock in exchange for land valued at $235,000 and a building valued at $361,000.
Note: Enter debits before credits.
\table[[Transaction,General Journal,Debit,Credit],[1,,=,
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Geometry
1.2K views

What is the formula for the Area of a circle?A = 2*?*RadiusA = ?*Radius^2 of...

Chemistry
1.2K views

How does a salt effect the pH of water? Please write at least 4 sentences or...

Medical Sciences
1.2K views

Describe in detail as great a detail as possible the mechanism by which skeletal muscle cells...

Mechanical Engineering
1.2K views

A steel string of length 2.0 meters and mass 15g/m is stretched with a tension of...

Biology
1.2K views

Study this list Cool Daddy O Groovy Based on your own knowledge these are words...

Algebra
1.2K views

enes 2 n 1 converge or diverge Choose the correct answer below OA The series...

Accounting
1.2K views

The liability for general obligation long-term debt is reported in the Select one:...

Accounting
1.2K views

Problem 18-3 (Algo) Reacquired shares-comparison of retired shares and treasury shares [LO18-5] National Supply's shareholders'...

Accounting
1.2K views

Beans Brewery in Bakersfield sells its craft beer in various keg sizes. Customers pay an...

Accounting
1.2K views

How should attitude assessment impact on an organisations performance evaluations, its recruitment and selection processes...

Accounting
1.2K views

Client X contacted you for clarification and recommendations regarding in what instances should goodwill be...

Finance
1.2K views

A stock's returns have the following distribution: Demand for the Company's Products...