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please help me with these problems thank you Tom Yuppy, a wealthy investor, exchanged a plot of land that onginally cost him $36,480 for 1,140
please help me with these problems thank you
Tom Yuppy, a wealthy investor, exchanged a plot of land that onginally cost him $36,480 for 1,140 shares of $10 par common stock issued to him by Leuig Corporation On the same date, Levig Corporation issued an additional 2,280 shares of stock to Yuppy for $32 per share. Required o. What was the value of the land at the date of the stock issue? b. Show the effect of the two stock issues on Leuig's books in a horizontal statements model. c. Prepare the journal entries to record these transactions. Complete this question by entering your answers in the tabs below. What was the value of the land at the date of the stock issue? Tom Yuppy. a wealthy investor, exchanged a plot of land that originally cost him $36,480 for 1,140 shares of $10 par common stock issued to him by Leuig Corporation On the same date, Leuig Corporation issued an odditional 2,280 shares of stock to Yuppy for $32 per shate. Required a. What was the value of the land at the date of the stock issue? b. Show the effect of the two stock issues on Leuig's books in a horizontal statements model c. Prepore the journal entries to record these tansactions Complete this question by entering your answers in the tabs below. Show the elfect of the two stock issues on Leuig's books in a horizontal statements model. (th the Statement of Cash Floms column, indicate whether the item is an ogerating ach (FA) Lesve blank to indicate that a6 element was not affectid by the event.) b. Show the effect of the two stock issues on Leuig's books in a horizontal statements model. c. Prepare the journal entries to record these transactions Complete this question by entering your answers in the tabs below. Prepare the journal entries to record these transactions. (If no entry is required for a transaction/event, select "No fournal entry required" in the first account field.) Journal entry worksheet Record the entry for exchange of land with common stock. Notet Enter debis before iresits Step by Step Solution
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