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 Corporation On the same date, Leuig Corporation 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. 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. Required A Required B Required C

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 Corporation On the same date, Leuig Corporation 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. 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