in exchange for 27,000 shares of $12 par common stock va quire an entry, leave it blank.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Issuing Stock for Assets Other Than Cash
On April 5. Fenning Corporation, a wholesaler of hydraulic lifts, acquired land in exchange for 27,000 shares of $12 par common stock valued at $19 per share.
Journalize the entry to record the transaction. If an amount box does not require an entry, leave it blank.
Apr. 5
Transcribed Image Text:Issuing Stock for Assets Other Than Cash On April 5. Fenning Corporation, a wholesaler of hydraulic lifts, acquired land in exchange for 27,000 shares of $12 par common stock valued at $19 per share. Journalize the entry to record the transaction. If an amount box does not require an entry, leave it blank. Apr. 5
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