PreLecture Question 03 ATeam Corporation issued 1000 shares

Pre-Lecture Question 03 A-Team Corporation issued 1,000 shares of $5 par value stock for land. The stock is actively traded at $9 per share. The land was advertised for sale at $10,500. The land should be recorded at O $9,000. $5,000. O $10,500. O $4,000.

Solution

A. $9,000

The land should be recorded at:

= $9 per share * 1,000

= $9,000