Question
A company acquired land and a building in exchange for giving up 20,000 shares of common stock that have a current fair value of $30
A company acquired land and a building in exchange for giving up 20,000 shares of common stock that have a current fair value of $30 per share. An independent appraisal estimates the fair values at $281,400 for the building and $388,600 for the land. How much should the company capitalize for the cost of the BUILDING?
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College Accounting Chapters 1-30
Authors: David Haddock, John Price, Michael Farina
16th Edition
1260247902, 978-1260247909
