Assume that a start-up manufacturing company receives land in exchange for 10,000 shares of $1 par common stock when the common stock is trading in the market at $15 per share. The land has no readily determinable market value. The impact on the financial statements is?.

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02-11-2022
Business

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Assume that a start-up manufacturing company receives land in exchange for 10,000 shares of $1 par common stock when the common stock is trading in the market at $15 per share. The land has no readily determinable market value. The impact on the financial statements is?.

Sagot :

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