Answer:
B. $105500
Explanation:
Calculation for What amount should Waterway Inc. record for the asset received
Asset received=$90,500+($120,500-$105,500)
Asset received=$90,500+$15,000
Asset received=$105,500
Therefore the amount that Waterway Inc. should record for the asset received is $105,500
face value
What is face value?
A financial concept known as "face value" refers to a security's nominal or monetary value as indicated by its issuer. The original cost of the stock, as stated on the certificate, serves as the face value for stocks. In the case of bonds, it refers to the sum that is normally paid in $1,000 increments to the holder at maturity. The term "par value" or simply "par" is frequently used to refer to the face value of bonds. The term "face value" refers to the nominal or monetary worth of a security; the issuing party declares the face value.
The initial purchase price of a stock, as shown on the stock's certificate, is the stock's face value.
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