Business, 21.12.2019 02:31 melikefood01

On december 1, miser corporation exchanged 6,000 shares of its $25 par value common stock held in treasury for a parcel of land to be held for a future plant site. the treasury shares were acquired by miser at a cost of $40 per share, and on the exchange date the common share of miser had a fair value of $50 per share. miser received $18,000 for selling scrap when an existing building on the property was removed from the site. based on these facts, the land should be capitalized at what amount?

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