Hurd Company acquired a building valued at $154,000 for property tax purposes in exchange for 10,000 shares of its $4 par common stock. The stock is widely traded and sold for $18 per share. At what amount should the building be recorded by Hurd Company? Select the correct answer. $140,000 $40,000 $154,000 $180,000

ROK Company purchased land from XYZ company by issuing 6,000 shares of it's $5 par value stock. At the time of the purchase, ROK's stock was selling for $20 a share and the land was worth $100,000. The journal entry to record this purchase would include a: Debit to Land of $100,000 O Debit to land of $30,000 O Debit to Land of $120,000 Credit to Common Stock of $120,000

Required information [The following information apples to the questions displayed below! On February 1, 2024, the Xilon Corporation issued 52.000 shares of its no-par common stock in exchange for five acres of and located in the city of Monrovia On the date of the acquisition. Xilon's common stock had a fair value of $15 per share. An office building was constructed on the site by an independent contractor. The building was completed on Novembe 2 2024. at a cost of $7,300,000. Xilon paid $4,650,000 in cash and the remainder was paid by the city of Monrovia. Required: 1. Assuming that Xilon prepares its financial statements according to US GAAP prepare the journal entries to record the acquisition of the land and the building Note: If no entry is required for a transection/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet Record the acquisition of land in exchange for common stock Note: Entar pebes before credits Date…

ACME Co. paid $110,000 for the net assets of Comb Corp. At the time of the acquisition the following information was available related to Comb's balance sheet:     Book Value Fair Value Current Assets $50,000 $  50,000 Building 80,000 100,000 Equipment 40,000 50,000 Liabilities 30,000 30,000   What is the amount recorded by ACME for the Building? a. $110,000 b. $20,000 c. $80,000 d. $100,000

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25. Help me selecting the right answer. Thank you

Shannon Company acquired land for $56,000 cash. Additional costs are as follow: Title and attorney's fee                                          $300 Insurance of one year                                             $1,500 Broker commission                                                  $1,130 Accrued Property taxes                                            $560   Shannon will record the acquisition cost of the land as a. $56,000 b. $57,500 c. $59,490 d. $57,990