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How would you journalize - there is 10000 shares of no-par

How would you journalize?

A half-acre parcel of land adjacent to the building is acquired in exchange for 600 shares of un-issued common stock. The land has a fair value of $54,000 and will be used immediately as outside storage lot and parking.

There is 10000 shares of no-par common stock with a stated value of $30 per share.

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Accounting Basics: How would you journalize - there is 10000 shares of no-par

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Accounting Basics: How would you journalize - there is 10000 shares of no-par

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