A corporation received land valued at $85,000 and a building valued at $102,500 in exchange for 5,000 shares of $20 par value common stock and $50,000 cash. The entry to record this transaction includes an increase to:

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The total value received is $237,500 ($85,000 land + $102,500 building + $50,000 cash). The par value of the stock issued is $100,000 (5,000 shares x $20). The excess over par value is $137,500 ($237,500 - $100,000), which is credited to Paid-in capital in excess of par-common.

A Corporation Received Land Valued at $85,000 and a Building