The Yang Corporation issued 2,000 ordinary shares of 20 nominal value for some land. The land had
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The Yang Corporation issued 2,000 ordinary shares of 20 nominal value for some land. The land had a fair market value of 60,000 .
Prepare the journal entries necessary to record the share issue for the land under each of the following conditions: (1) The shares were selling for 28 per share on the day of the transaction; and (2) management attempted to place a market value on the shares but could not do so.
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Related Book For 
Financial Accounting A Global Approach
ISBN: 9780395839867
1st Edition
Authors: Sidney J. Gray, Belverd E. Needles
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