Kansas Company acquired a building valued at $172,000 for property tax purposes in exchange for 12,000...
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Kansas Company acquired a building valued at $172,000 for property tax purposes in exchange for 12,000 shares of its $5 par common stock. The stock is widely traded and selling for $19 per share. At what amount should the building be recorded by Kansas Company? Oa. $167,500 Ob. $60,000 Oc. $228,000 Od. $172,000 Kansas Company acquired a building valued at $172,000 for property tax purposes in exchange for 12,000 shares of its $5 par common stock. The stock is widely traded and selling for $19 per share. At what amount should the building be recorded by Kansas Company? Oa. $167,500 Ob. $60,000 Oc. $228,000 Od. $172,000
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