Slide12 - Acquisition Cost of Tangible Assets Suppose that...

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Unformatted text preview: Acquisition Cost of Tangible Assets - Suppose that Woodside Corporation sold land to Tyron Company in exchange for shares of Tyron stock. Tyron is a publicly traded stock whose share price is observable each day. An appraiser valued the land at $100,000, while the stock had a market value at the time of the sale of$108,000. Tyron would record the following entry for this nonmonetary transaction: Land 108,000 Common Stock 108,000 ...
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