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  3. 4110-1.5 plumb company created stew company as

4110-1.5 Plumb Company created Stew Company as a wholly owned subsidiary by...

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Accounting

4110-1.5

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Plumb Company created Stew Company as a wholly owned subsidiary by transferring assets and accounts payable to Stew in exchange for its common stock. Stew recorded the following entry when it received the assets and accounts payable Cash Accounts Receivable Inventory Land Buildings Equipment Accounts Pavable Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Common Stock Additional Paid-In Capital 9,000 32,000 34,000 10,000 81,000 61,000 13,000 13,000 14,000 32,000 155,000 Required a. What was Plumb's book value of the total assets (not net assets) transferred to Stew Company? Book value

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