Answer:
Land 85,000 debit
Common Stock 20,000 credit
Additional paid-in 65,000 credit
--to record acquisition of land--
Explanation:
We will enter the land for his appraised value of 85,000 dollars
the difference between this and the face value of the stock issued will be considered Additional paid-in Common stock
2,000 shares x $10 each = 20,000
85,000 - 20,000 = 65,000 adidtional paid.-in
we debit the asset acquire and credit the equity accounts.
