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What the entry to record the transaction

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Question - A firm acquired land and a building by issuing 5,000 shares of its own stock, which had a par value of $25 per share. On this date the stock closed at $40 per share on the American Stock Exchange. Information from the county assessor's office indicate assessed valuations as follows: Land, $10,000; Building, $70,000. What the entry to record the transaction should include a debit to land?

a. $15,625

b. $10,000

c. $45,000

d. $25,000

e. $80,000

Reference no: EM132795326

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