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Why is common stock not issued at price less than par value? Land appraised at $80,000 is purchased by issuing 1000 shares of $20 par

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Why is common stock not issued at price less than par value? Land appraised at $80,000 is purchased by issuing 1000 shares of $20 par value common stock. The market price of shares at the time of the exchange, based on active trading in the securities market is $95 per share, Should the land be recorded at $20,000, $80,00 or $95,000. Explain your

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