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Falak Naz
Falak Naz, Accountant
Category: Finance
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Experience:  I am a qualified Chartered Accountant. Currently i am working in financial institution.
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A corporation issued 5,000 shares of $10 par value common st

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A corporation issued 5,000 shares of $10 par value common stock in exchange for some land with a market value of $60,000. The entry to record this exchange is:

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Submitted: 7 years ago.
Category: Finance
Expert:  Falak Naz replied 7 years ago.

hi boop,



Common Stock=========cr.==============50,000

Premium on issue=======cr.==============10,000

to record the land on fair value and issuance of share at premium

Edited by Falak Naz on 2/10/2010 at 1:34 PM EST

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