Question

Sudoku Company issues 18,000 shares of $8 par value common stock in exchange for land and a building. The land is valued at $226,000 and the building at $363,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building. View transaction list Journal entry worksheet Record the issue of 18,000 shares of $8 par value common stock in exchange for land valued at $226,000 and a building valued at $363,000. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal

Answer 1

Answer- Journal Entry-

Transaction	General Journal	Debit	Credit
		$	$
1	Land	226000
	Building	363000
	Common stock $8 par value (18000 shares*$8 per share)		144000
	Paid-in-capital in Excess of par value,comon stock		445000
	(Being entry recorded for issuance of common stock)

Answer 2

Sudoku Company issues 28,000 shares of $7 par value common stock in exchange for land and a building. The land is valued at $227,000 and the building at $363,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building.