Question
Assume that Ava Company creates a subsidiary, Bodie Company, and transfers the following assets to Bodie in exchange for all 10,000 shares of Bodies $2
Assume that Ava Company creates a subsidiary, Bodie Company, and transfers the following assets to Bodie in exchange for all 10,000 shares of Bodies $2 par common stock:
| Item | Book Value | Fair Value |
| Cash | $5,635 | $5,635 |
| Inventory | $1,583 | $2,695 |
| Land | $11,033 | $18,746 |
| Building | $91,471 | $203,745 |
When Bodie records the transfer, Bodie will debit Inventory for $______
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Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
5th edition
9780470418239, 470239808, 9780470239803, 470418230, 978-1118128169
