Business, 09.12.2021 04:40 yaya111601
Mio Corp was the sole stockholder of Plasti Corp. On September 30, Mio declared a property dividend of Plasti’s 2,000 outstanding shares of $1 par value common stock, distributable to Mio's stockholders. On that date, the book value of Plasti's stock was $1.50 per share. Immediately after the distribution, the market value of Plast's stock was $4.50 per share. What amount should Mio report in its financial statements as gain on disposal of the Plasti stock?
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Mio Corp was the sole stockholder of Plasti Corp. On September 30, Mio declared a property dividend...
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