On April 10, XYZ acquired land with a current market value of $100,000 in exchange...
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Accounting
On April 10, XYZ acquired land with a current market value of $100,000 in exchange for 100 shares of $20 par common stock.
a)The Fair market value of the stock is unknown.
b) The Fair market value of the stock is $90/share Journalize these transactions.
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