Exercise 13-5 Stock issuance for noncash assets LO P1

Sudoku Company issues 19,000 shares of $10 par value common stock in exchange for land and a building. The land is valued at $233,000 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.

Record the issue of 19,000 shares of $10 par value common stock in exchange for land valued at $233,000 and a building valued at $361,000.