Question
On May 5, 2018, Carla Vista Corp. exchanged 3200 shares of its $25 par value treasury common stock for a patent owned by Masset Co.
On May 5, 2018, Carla Vista Corp. exchanged 3200 shares of its $25 par value treasury common stock for a patent owned by Masset Co. The treasury shares were acquired in 2017 for $85000. At May 5, 2018, Carla Vista's common stock was quoted at $31 per share, and the patent had a carrying value of $110000 on Masset's books. Carla Vista should record the patent at?
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Using Microsoft Excel and Access 2016 for Accounting
Authors: Glenn Owen
5th edition
1337109048, 1337109045, 1337342149, 9781337342148 , 978-1337109048
