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General Accounting Discussions: Swapping Fixed Assets for Preferred

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    I need help with an accounting problem, please. The transaction involves issuance of 4,000 shares of $100 par preferred stock for land, a building, and machinery. I don't have the fair market value for the stock or the land. I do have the fair market value for the building and the machinery. It gives the appraisal value of the land. Without knowing the FMV of the stock, do I use the appraised value of the land the same as the fair market value?

    Thanks for any help.
    • CommentAuthorAbusamak
    • CommentTimeApr 10th 2007
     
    yes,
    you shall take the market value of assets when market value of stock not avilable
    and apprisal value of land

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