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Mashutka [201]
3 years ago
15

Kansas Company acquired a building valued at $162,000 for property tax purposes in exchange for 12,000 shares of its $3 par comm

on stock. The stock is widely traded and selling for $19 per share. At what amount should the building be recorded by Kansas Company?
Business
1 answer:
Neko [114]3 years ago
8 0

Answer:

$228,000

Explanation:

Value of the building

= Market price of the shares x Number of shares exchanged

= 12000x$19

=$228,000

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