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

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Accounting

Exercise 11-6(Algo) Stock issuance for noncash assets LO P1
Sudoku Company issues 32,000 shares of $10 par value common stock in exchange for land and a building. The land is valued at
$238,000 and the building at $361,000. 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 32,000 shares of $10 par value common stock in exchange
for land valued at $238,000 and a building valued at $361,000.
Note: Enter debits before credits.
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