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11 October, 21:41

Kansas Company acquired a building valued at $152,000 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?

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  1. 11 October, 21:53
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    amount that the building be recorded by Kansas Company is $204000

    Explanation:

    given data

    acquired building = $152,000

    exchange = 12,000 shares

    common stock = $6

    selling = $17 per share

    to find out

    amount should the building be recorded by Kansas Company

    solution

    we get here building valued that is at fair market price of share is express as

    building valued record = 12,000 shares * $17 per share

    building valued record = $204000

    so amount that the building be recorded by Kansas Company is $204000
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