Home Client uploads The W. J. Clinton Company issued 750 shares of $1 stated value common stock in exchange for land from the Whitewater Investment Company. The Whitewater Investment Company carried the land on its books at $45,000. The land was recently appraised at $70,0

The W. J. Clinton Company issued 750 shares of $1 stated value common stock in exchange for land from the Whitewater Investment Company. The Whitewater Investment Company carried the land on its books at $45,000. The land was recently appraised at $70,0

Author: Client Uploads

April 13th, 2023

Im studying for my Accounting class and dont understand how to answer this. Can you help me study?

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The W. J. Clinton Company issued 750 shares of $1 stated value common stock in

exchange for land from the Whitewater Investment Company. The Whitewater

Investment Company carried the land on its books at $45,000. The land was recently

appraised at $70,000. The W. J. Clinton Company’s common stock has a current

market price of $100/share.

When recording this transaction, how much should the W. J. Clinton Company record

as additional paid in capital?

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