Amos company acquired land in exchange for 10000 shares

Reference no: EM13615142

Amos Company acquired land in exchange for 10,000 shares ofits $10 par common stock. The fair market value of the land is notdeterminable, but the stock is widely traded and was selling for$25 per share when exchanged for the land. At what amount shouldthe land be recorded by Amos Company?

Reference no: EM13615142

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