question archive Land $398,000 Buildings 1,194,000 Equipment  796,000    Total $2,388,000 On July 6, Pronghorn Company acquired the plant assets of Doonesbury Company, which had discontinued operations

Land $398,000 Buildings 1,194,000 Equipment  796,000    Total $2,388,000 On July 6, Pronghorn Company acquired the plant assets of Doonesbury Company, which had discontinued operations

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Land $398,000

Buildings 1,194,000

Equipment  796,000   

Total $2,388,000

On July 6, Pronghorn Company acquired the plant assets of Doonesbury Company, which had discontinued operations. The appraised value of the property is:
Pronghorn Company gave 12,500 shares of its $100 par value common stock in exchange. The stock had a market price of $239 per share on the date of the purchase of the property.

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