Exercise 11-5 Stock issuance for noncash assets LO P1

Sudoku Company issues 30,000 shares of $10 par value common stock in exchange for land and a building. The land is valued at $235,000 and the building at $375,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building.

• Record the issue of 30,000 shares of $10 par value common stock in exchange for land valued at $235,000 and a building valued at $375,000.

Note: Enter debits before credits.

Transaction	General Journal	Debit	Credit
1