Alou Ltd.'s 10 par value ordinary shares are actively traded at a market price of 15 per

Question:

Alou Ltd.'s £10 par value ordinary shares are actively traded at a market price of £15 per share. Alou issues 5,000 shares to purchase land advertised for sale at £81,000. Journalize the issuance of the shares in acquiring the land.

Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...