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Exercise 13-6(Static) Stock issuance for noncash assets LO P1 Sudoku Company issues 7,000...

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Accounting

Exercise 13-6(Static) Stock issuance for noncash assets LO P1
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.
Journal entry worksheet
A
Record the issue of 7,000 shares of $7 par value common stock in exchange
for land valued at $45,000 and a building valued at $85,000.
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