Kansas Company acquired a building valued at $151,000 for property tax purposes in exchange for 12,000...
Kansas Company acquired a building valued at $151,000 for property tax purposes in exchange for 12,000 shares of its $6 par common stock. The stock is widely traded and selling for $17 per share. At what amount should the building be recorded by Kansas Company? a.$204,000 b.$151,000 c.$72,000 d.$131,500
Homework Answers
a. $204,000
Explanation:
Value of the building = Market price of the shares x Number of
shares exchanged = $17 x 12,000 = $204,000
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Kansas Company acquired a building valued at $151,000 for
property tax purposes in exchange for 12,000...
Calculator Kansas Company acquired a building valued at $153,000 for property tax purposes in exchange for...
Calculator Kansas Company acquired a building valued at $153,000 for property tax purposes in exchange for 12,000 shares of its 56 par common stock. The stock is widely traded and sing for $20 per share. Al what amount should the building be recorded by Kansas Company? O . 15,000 Previous Next > Submit Test for Gradina All work saved
Alma Corp. issues 1,190 shares of $5 par common stock at $16 per share. When the...
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on april 10, a company acquired land valued at $58,000 in exchange for 1,000 shares of...
on april 10, a company acquired land valued at $58,000 in exchange for 1,000 shares of $50 par common stock with a current market price of $57. Journalize this transaction
On April 10, a company acquired land valued at $58,000 in exchange for 1,000 shares of...
On April 10, a company acquired land valued at $58,000 in exchange for 1,000 shares of $50 par common stock with a current market price of $57. Journalize this transaction. 3. 4. A corporation was organized on January 30 of the current year, with an authorization of 20,000 shares of $3 noncumulative preferred stock, $50 par, and 100,000 shares of $10 par common stock. Jounalize the following transactions that were completed during the first year of operations: Jan. 30 Issued...
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a. Geiger, a publicly-traded company, acquired a machine from Counter. Geiger gave Counter 10,000 shares of...
a. Geiger, a publicly-traded company, acquired a machine from Counter. Geiger gave Counter 10,000 shares of Geiger’s $1 par value common stock in exchange for the machine. At the time of the aquisition, Geiger’s stock had a market value of $25 per share. At the time of the acquisition, several appraisers valued the machine at $253,000. Prepare the entry Geiger should make to record its acquisition of the machine. b. Tide, a non-publicly-traded company, acquired a machine from Roll. Tide...
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Sudoku Company issues 22,000 shares of $5 par value common stock in exchange for land and a building. The land is valued at $227.000 and the building at $368,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building View transaction list View journal entry worksheet No Transaction General Journal Debit Credit Land Building
Calculator Kansas Company acquired a building valued at $153,000 for property tax purposes in exchange for 12,000 shares of its 56 par common stock. The stock is widely traded and sing for $20 per share. Al what amount should the building be recorded by Kansas Company? O . 15,000 Previous Next > Submit Test for Gradina All work saved
Alma Corp. issues 1,190 shares of $5 par common stock at $16 per share. When the transaction is recorded, credits are made to Oa. Common Stock, $13,090 and Paid-In Capital in Excess of Stated Value, $5,950. b. Common Stock, $5,950 and Retained Earnings, $13,090. c. Common Stock, $19,040. Od. Common Stock, $5,950 and Paid-In Capital in Excess of Par-Common Stock, $13,090. Kansas Company acquired a building valued at $163,000 for property tax purposes in exchange for 12,000 shares of its...
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Nevada Corporation has 63,200 shares of $26 par stock outstanding that has a current market value of $158. If the corporation issues a 5-for-1 stock split, the number of shares outstanding will be Oa 821,600 Ob. 316,000 Oc. 63,200 Od. 252,800 When Wisconsin Corporation was formed on January 1, the corporate charter provided for 98,000 shares of $10 par value common stock. During its first month of operation, the corporation issued 8,340 shares of stock at a price of $22...
Sudoku Company issues 31,000 shares of $6 par value common stock in exchange for land and a building. The land is valued at $241,000 and the building at $363,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building View transaction list Journal entry worksheet Record the issue of 31,000 shares of $6 par value common stock in exchange for land valued at $241,000 and a building valued at $363,000. Note: Enter debits...
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