Appropriateness of the accounting procedures

Reference no: EM13151459

During the year, the company purchased equipment through the issuance of common stock. The stock had a par value of $135,000 and a fair market value of $450,000. The fair market value of the equipment was not easily determinable. The company recorded this transaction as follows

Comment on the appropriateness of the accounting procedures followed by Anderson, Inc

Reference no: EM13151459

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