Sudoku Company issues 34,000 shares of $7 par value common stock in exchange for land and a building. The land is valued at $227,000 and the building at $376,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building.

*if possible, explain how to get the paid-in capital in excess of par value, common stock please!! i will thumbs up*

Sudoku Company issues 34,000 shares of $7 par value common stock in exchange for land and a building. The land is valued at $227,000 and the building at $376,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building. No A Transaction 1 Land Building General Journal Common stock, $7 par value Paid-in capital in excess of par value, common stock Debit Credit 227,000 376,000 238,000 149,000