Hurd company acquired a building valued at 160000 for, Ask an Expert

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Hurd Company acquired a building valued at $160,000 for propertytax purposes in exchange for 10,000 shares of its $5 par commonstock. The stock is widely traded and selling for $15 per share. Atwhat amount should the building be recorded by Hurd Company?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9992710

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