On March 31, 20x1, Budoy Co. received 10,000 stock rights from its investment in equity securities to

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On March 31, 20x1, Budoy Co. received 10,000 stock rights from its investment in equity securities to subscribe to new shares at F60 per share for every 4 rights held. Prior to issuance of stock rights, the shares were selling at $80 per share.

How much is the initial carrying amount of the stock rights?

Related Book For answer-question

Intermediate Accounting

ISBN: 978-1118742976

16th edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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Posted Date: Mar 28, 2023 01:01 AM

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On March 31, 20x1, Budoy Co. received 10,000 stock rights from its investment in equity securities to

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Intermediate Accounting

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