Exercise 11-6 (Algo) Stock issuance for noncash assets LO P1 Sudoku Company issues 34,000 shares of $7 par value common stock in exchange for land and a building. The land is valued at $232,000 and the building at $377,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building. View transaction list Journal entry worksheet A Record the issue of 34,000 shares of $7 par value common stock in exchange for land valued at $232,000 and a building valued at $377,000. Note: Enter debits before credits. Transaction 1 Land Building Common stock, $7 par value General Journal Debit Credit 232,000 377,000 238,000 Paid-in capital in excess of par value, common stock