A plant facility consisting of land and building was, Ask an Expert

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A plant facility consisting of land and building was acquired from Mana's company in exchange for 20,000 shares of Hasbro's common stock. On aquisition date Hasbro's stock had a closing market price of $37 per share. The plant facility was carried on Mana's books at $110,000 for land and $320,000 for the building on exchange date. Current appraised values are $230,000 for the land and $690,000 for the building.
Prepare a detailed analysis on the balance sheet for this exchange. Do I need to look at the book value for this, or is that irrelavent information?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9969021

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