Exercise $13-6($Static$)$ Stock issuance for noncash assets LO P$1$

Sudoku Company issues $7,000$ shares of $$7$ par value common stock in exchange for land and a building. The land is valued at

$$45,000$ and the building at $$85,000.$ Prepare the journal entry to record issuance of the stock in exchange for the land and building.

Journal entry worksheet

A

Record the issue of $7,000$ shares of $$7$ par value common stock in exchange

for land valued at $$45,000$ and a building valued at $$85,000.$