Cooper co. issued 5000 shares of its 5 par value common, Ask an Expert

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Cooper Co. issued 5,000 shares of its $5 par value common stock in exchange for a tract of land owned by Wallowitz Inc. Wallowitz had originally listed the land for sale at $165,000. The stock price on the exchange date was $30 per share. How much should Cooper record as the cost of the land?

$165,000

$150,000

$140,000

$125,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9409759

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