Sudoku company issues 33,000 shares of $9 par value common stock in exchange for land and a building. the land is valued at $228,000 and the building at $361,000. prepare the journal entry to record issuance of the stock in exchange for the land and building.

Answer and Explanation:

Journal Entry:

                                                                                            Debit          Credit

Land                                                                                 $ 228,000                                                                            

Building                                                                            $ 361,000

    Common Stock                                                                            $ 297,000

    Paid in capital in excess of Par Value - Common Stock           $ 292,000

                                            $                                $

    Land                           228,000

    Building                     361,000

       Common Stock                                       297,000      

       Share Premium                                       292,000

 Being issuance of 33,000 shares of $9 par value common stock in exchange for land valued at $228,000 and building valued at $361,000.                        

Explanation:

This common stock is issued at a premium, this is because the value of the asset received in exchange for the stock is more than the par value of the common stock. The excess of the issue price above the par value of a share is share premium.

To prepare a journal for this kind of transaction, debit the relevant asset received in place of cash with the value of asset received in exchange for the common stock. in this case, debit Land account with $228,000 and debit Building Account with $361,000.

Credit the common stock account with (the quantity of shares issued multiplied by the par value)

Credit the share premium account by (difference between value received and par value of stock)

the clients (funders) and customers (individual nonprofit staff) are great to work with. that i can be open about being a person of faith when appropriate. the variety of my tasks each day.

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.