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How the land should be recorded at a cost o

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Reference no: EM133002734

Problem 1: A company issued 100,000 shares of its own $3 par common stock to purchase a piece of land. The value of the stock is not easily determined, but the appraised value of the land is $575,000. The land should be recorded at a cost of

a. $300,000
b. $275,000
c. $575,000
d. $450,000

Reference no: EM133002734

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