On Feburary 1, 2017 Buffalo Corporation issued 3,000 shares of its $5 par value common stock for land worth $31,000Prepare the February 1, 2017 Journal EntryO Cash$15.000Common StockS15,000Cash$31,000Common Stock$31.000$31 000O LandCommon StockS31 000O Land$31,000Common Stock$15 000Additional Paid-in-Capital C/S S15.000

On Feburary 1, 2017 Buffalo Corporation issued 3,000 shares of its $5 par value common stock for land worth $31,000 Prepare the February 1, 2017 Journal Entry O Cash $15,000 Common Stock $15,000 O Cash $31,000 Common Stock S31,000 O Land $31,000 Common Stock $31.000 Land $31,000 Common Stock $15.000 Additional Paid-in-Capital C/S $15.000

On Feburary 1, 2017 Buffalo Corporation issued 3,000 shares of its $5 par value common stock for land worth $31,000 Prepare the February 1, 2017 Journal Entry O Cash $15,000 Common Stock $15,000 O Cash $31,000 Common Stock S31,000 O Land $31,000 Common Stock $31.000 Land $31,000 Common Stock $15.000 Additional Paid-in-Capital C/S $15.000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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