Question
ABC Company issued 12,000 share of $10 par value common stock in exchange for a tract of land. The land had a book value of
ABC Company issued 12,000 share of $10 par value common stock in exchange for a tract of land. The land had a book value of $170,000. The stock of ABC Company was publicly traded and closed at $19 per share on Oct 1. ABC Company should record an in additional paid-in capital of?
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Advanced Accounting
Authors: Debra C Jeter, Paul K Chaney
5th Edition
1118022297, 978-1118022290
