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Business, 30.03.2021 04:20 funguy9198
Desert Company exchanged 3,000 shares of its stock, for equipment from Jungle Company. Desert's stock has a par value of $50 per share and at the time of the exchange was not actively traded on a market but 12 months ago was sold at a value of $49 per share. The quoted fair value of the equipment is $170,993. What is the amount Desert should record as the historical cost of the equipment?
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Desert Company exchanged 3,000 shares of its stock, for equipment from Jungle Company. Desert's stoc...
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