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Record the issue of shares of common stock

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Problem - Stock issuance for noncash assets - Sudoku Company issues 32,000 shares of $9 par value common stock in exchange for land and a building. The land is valued at $242,000 and the building at $370,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building. Record the issue of 32,000 shares of $9 par value common stock in exchange for land valued at $242,000 and a building valued at $370,000.

Reference no: EM133050063

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