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7 XYZ Inc. issued 6,000 shares of its $10 par value common stock in exchange for land that has a market value of $84,000. The
7 XYZ Inc. issued 6,000 shares of its $10 par value common stock in exchange for land that has a market value of $84,000. The entry to record this transaction would include OAA credit to Land for $60,000 OB. A credit to Paid-in Capital in Excess of Par Value, Common Stock for $24,000. OCA debit to Land for $60,000 OD. A debit to Common Stock for $60,000
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