Question
On July 6, Matt Company acquired the plant assets of Doonesbury Company, which had discontinued operations. The appraised value of the property is: Land$386,000 Buildings1,158,000
On July 6, Matt Company acquired the plant assets of Doonesbury Company, which had discontinued operations. The appraised value of the property is:
Land$386,000
Buildings1,158,000
Equipment772,000Total$2,316,000
Oriole Company gave12,500shares of its $100par value common stock in exchange. The stock had a market price of $192per share on the date of the purchase of the property.
what would be the amount in debit for land?
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Financial Accounting
Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider
16th Edition
1337913103, 9781337913102
