Business, 12.04.2021 20:50, angelinamadriga
Mio Corp. was the sole stockholder of Plasti Corp. On September 30, Year 1, Mio declared a property dividend of 2,000 shares of Plasti $1 par value common stock, to be distributed to Mio's stockholders. On September 30, the carrying value of Plasti's stock was $1.50 per share and the fair value was $4.50. Immediately after the distribution, the fair value of Plasti's stock was $5.50 per share. What amount should Mio report in its Year 1 financial statements as gain on disposal of the Plasti stock
Answers: 3
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Mio Corp. was the sole stockholder of Plasti Corp. On September 30, Year 1, Mio declared a property...
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