Soku company issues 35000 shares of 6 par value common, Ask an Expert

Accounting

Soku Company issues 35,000 shares of $6 par value common stock in exchange for land and a building. The land is valued at $233,000 and the building at $365,000.

Prepare the journal entry to record issuance of the stock in exchange for the land and building.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9978178

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