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At what amount should the land be carried

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Reference no: EM132752003

Question - On September 1, 2019, Howard corporation issued 10,000 shares of its 25 par treasury ordinary shares for a parcel of land intended as a future plant site. The treasury shares were acquired by Howard at a cost of 30 per share. Howard's ordinary share had a market value of 40 per share on September 1, 2019. At what amount should the land be carried?

A. 400,000

B. 300,000

C. 250,000

D. 350,000

Reference no: EM132752003

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