Business, 29.10.2019 05:31 sixtomomtermont
On december 1, 2014, abel corporation exchanged 40,000 shares of its $10 par value common stock held in treasury for a used machine. the treasury shares were acquired by abel at a cost of $40 per share, and are accounted for under the cost method. on the date of the exchange, the common stock had a fair value of $55 per share (the shares were originally issued at $30 per share). as a result of this exchange, abel's total stockholders' equity will increase bya. 400,000b. 1,600,000c. 2,200,000d. 1,800,000
Answers: 2
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On december 1, 2014, abel corporation exchanged 40,000 shares of its $10 par value common stock held...
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