On december 15, 19x5, flm corporation exchanged 2,000 shares of $10 par value common stock for land. the current market price of the stock was $20 per share. the value of the land was not readily determinable. which of the following entries should be made to record the issuance of the stock?

a) land 20,000
common stock 20,000
b) land 40,000
common stock 40,000
c) land 40,000
common stock 20,000
paid-in capital in excess of par value 20,000
d) cannot be determined.

Problem 8-6 cullumber company is a multi product firm. presented below is information concerning one of its products, the hawkeye. date transaction quantity price/cost 1/1 beginning inventory 2,700 $17 2/4 purchase 3,700 26 2/20 sale 4,200 43 4/2 purchase 4,700 33 11/4 sale 3,900 47 calculate average-cost per unit. (round answer to 4 decimal places, e. g. 2.7613.) average-cost per unit $ link to text compute cost of goods sold, assuming cullumber uses: (round average cost per unit to 4 decimal places, e. g. 2.7631 and final answers to 0 decimal places, e. g. 6,548.) cost of goods sold (a) periodic system, fifo cost flow $ (b) perpetual system, fifo cost flow $ (c) periodic system, lifo cost flow $ (d) perpetual system, lifo cost flow $ (e) periodic system, weighted-average cost flow $ (f) perpetual system, moving-average cost flow $ click if you would like to show work for this question: open show work