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Business, 02.01.2020 22:31 oomale

Tyrol company creates a subsidiary, venice company. tyrol transfers cash of $50,000, land with both a cost and book value of $175,000, and a building with a cost of $150,000 and a book value of $100,000 to venice, in exchange for all 500,000 shares of venice’s $1 par common stock. tyrol’s journal entry to record the transfer would include:

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Tyrol company creates a subsidiary, venice company. tyrol transfers cash of $50,000, land with both...
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