In 2019, Leppard Inc. issued 1,000 ordinary shares of $10 par value for land worth $40,000. a.
Question:
a. Prepare Leppard's journal entry to record the transaction.
b. Indicate the effect the transaction has on cash.
c. Indicate how the transaction is reported on the statement of cash flows.
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a Land 40000 Share ...View the full answer
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Related Book For 
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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