6 34 Required information 416 po Sapped Knowledge Check 01 On January 15, Pinkney, Incorporated, issued 10,000 shares of $10 par value common stock in exchange for land and a building. Five years ago, the stockholder purchased the land for $40,000 and constructed the building at a cost of $90,000 At the time of the stock issuance, the land and the building had fair market values of $45,000 and $95,000, respectively Complete the necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns View transaction list Journal entry worksheet < stock in exchange for land and a building. Five years ago, the stockholder purchased the land for $40,000 and constructed the building at a cost of $90,000. At the time of the stock issuance, the land and the building had fair market values of $45,000 and $95,000, respectively. Mc Graw Hill < Prev 6 7 of 24 Next >>