Sudoku company issues 29,000 shares of $8 par value common stock in exchange for land and a building. the land is valued at $245,000 and the building at $374,000. prepare the journal entry to record issuance of the stock in exchange for the land and building.

The Journal entry is as follows:

Land A/c             Dr. $245,000

Building A/c       Dr. $374,000

To Common stock, $8 par value                                          $232,000

To Paid-in capital in excess of par value, common stock   $387,000

(To record issuance of the stock in exchange for the land and building)

Workings:

Common stock = $8 × 29,000 shares

                          = $232,000

answer; to open a new transaction, the user should type the code/0 along with a new transaction code, when done with that the user should press enter to open the transaction; good luck;

answer the amount a seller is paid minus the cost of production;