A company acquires land by issuing 12,000 shares of its 520 par value common stock which is currently trading at $20 per share, and the appraised value of the land is $270,000 Which of the following statements correctly describes the recording of the land Multiple Choice Record the land at the par value of the stock given up. $240,000 Record the land at its appraised value of $270,000 and recognize again of $30,000 since the issued stock is currently worth $240.000 Record the sand at the S240,000 vatne of the consideration gives us Record the land at the average of its oppraised value of $270.000 and the $240.000 value of the stock issued, thereby recognizing a $30,000 gain