At what amount should the building be recorded?? OXE Company acquired a buildingvalued at $195,000 for property taxpurposes in exchange for 13,000 sharesof $6 par common stock. The stock isselling for $14 per share. At whatamount should the building berecorded?

Explanation of Building Value for Tax Purposes: This refers to the assessed value of a property as…

Answered: OXE Company acquired a building valued…

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter4: Corporations: Organization And Capital Structure

Section: Chapter Questions

Problem 1BCRQ

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OXE Company acquired a building valued at $195,000 for property tax purposes in exchange for 13,000 shares of $6 par common stock. The stock is selling for $14 per share. At what amount should the building be recorded?