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Team C - Wk2 - $0 Part B Note The market value of the stock...

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EXERCISE 15-6 (25-30 minutes) (a) Cash $218,000 Common stock $25,000 Land $193,000 (b) Land $46,000 Common Stock $5,000 Paid-In Capital In excess to par $41,000 (c) Account Title $0 Account Title
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Unformatted text preview: $0 Part B Note: The market value of the stock is used to value the exchange because it is a more objective measure than the appraised value of the land....
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