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
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
Buildings 1,158,000
Equipment 772,000Total $2,316,000
Matt 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? and how did you get your answer?
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Cost Accounting Principles And Applications
Authors: Horace Brock, Linda Herrington, La Vonda Ramey
7th Edition
0071115609, 978-0071115605
