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Tom Yuppy, a wealthy investor, exchanged a plot of land that originally cost him $25,000 for 1,000 shares of $10 par common stock issued to
Tom Yuppy, a wealthy investor, exchanged a plot of land that originally cost him $25,000 for 1,000 shares of $10 par common stock issued to him by Leuig Corporated On the same date, Leuig Corporated issued an additional 2,000 shares of stock to Yuppy for $25 per share. Required a. What was the value of the land at the date of the stock issue? b. Record the transactions in a horizontal statements model. Note: In the Statement of Cash Flows column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). Not all cells require input
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