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Soku Company issues 36,000 shares of $9 par value common stock in exchange for land and a building. The land is valued at $225,000 and
Soku Company issues 36,000 shares of $9 par value common stock in exchange for land and a building. The land is valued at $225,000 and the building at $360,000.
Prepare the journal entry to record issuance of the stock in exchange for the land and building. (Omit the "$" sign in your response.) |
General Journal | Debit | Credit |
(Click to select)Contributed capital in excess of par value, common stockAccounts payableCommon stock, no-par valueLandOrganization expensesBuildingCommon stock, $9 par valueCash | ||
(Click to select)Contributed capital in excess of par value, common stockOrganization expensesCashCommon stock, no-par valueAccounts payableBuildingLandCommon stock, $9 par value | ||
(Click to select)Contributed capital in excess of par value, common stockBuildingCommon stock, no-par valueOrganization expensesCashCommon stock, $9 par valueAccounts payableLand | ||
(Click to select)Common stock, $9 par valueBuildingLandCommon stock, no-par valueCashContributed capital in excess of par value, common stockOrganization expensesAccounts payable |
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