Amount should the land be recorded by amos company, Accounting Basics

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Amount should the land be recorded by amos company

Amos Company acquired land in exchange for 10,000 shares of its $10 par common stock. The fair market value of the land is not determinable, but the stock is widely traded and was selling for $25 per share when exchanged for the land. At what amount should the land be recorded by Amos Company?

a. $150,000

b. $250,000

c. $350,000

d. $100,000

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Accounting Basics: Amount should the land be recorded by amos company

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Accounting Basics: Amount should the land be recorded by amos company

Reference No:- TGS094965

Recent Questions Asked Accounting Basics

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