Ivanhoe Corp. acquires a patent from Maxi Co. in exchange for2400 shares of Ivanhoe Corp.s $5 par
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Ivanhoe Corp. acquires a patent from Maxi Co. in exchange for2400 shares of Ivanhoe Corp.’s $5 par value common stock and $92000cash. When the patent was initially issued to Maxi Co., Ivanhoe Corp.’s stock was selling at $7.70 per share. When Ivanhoe Corp. acquired the patent, its stock was selling for $9.20 a share. Ivanhoe Corp. should record the patent at what amount?
| $104000 |
| $110480 |
| $114080 |
| $92000 |
Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
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