Exercise $11-6($Algo$)$ Stock issuance for noncash assets LO P$1$

Sudoku Company issues $32,000$ shares of $$10$ par value common stock in exchange for land and a building. The land is valued at

$$238,000$ and the building at $$361,000.$ Prepare the journal entry to record issuance of the stock in exchange for the land and

building.

Journal entry worksheet

A

Record the issue of $32,000$ shares of $$10$ par value common stock in exchange

for land valued at $$238,000$ and a building valued at $$361,000.$

Note: Enter debits before credits.