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?
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?
Chapter4: Corporations: Organization And Capital Structure
Section: Chapter Questions
Problem 1BCRQ
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Transcribed Image Text: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?
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