Answer
Explanation:
Common stock (17,000 shares × $7 per share) = $119,000
Paid-in capital in excess of par value, common stock ($230,000 + $379,000) – $119,000 = $490,000
Showing posts with label issuance of the stock in exchange for the land and building. Show all posts
Showing posts with label issuance of the stock in exchange for the land and building. Show all posts
Friday, 12 April 2019
Sudoku Company issues 17,000 shares of $7 par value common stock in exchange for land and a building. The land is valued at $230,000 and the building at $379,000.
Sudoku Company issues 17,000 shares of $7 par value common stock in exchange for land and a building. The land is valued at $230,000 and the building at $379,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building.
Answer
Explanation:
Common stock (17,000 shares × $7 per share) = $119,000
Paid-in capital in excess of par value, common stock ($230,000 + $379,000) – $119,000 = $490,000
Answer
Explanation:
Common stock (17,000 shares × $7 per share) = $119,000
Paid-in capital in excess of par value, common stock ($230,000 + $379,000) – $119,000 = $490,000
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