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Home Q & A Board Other Fields Homework Help Business Accounting
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goji.go goji.go
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Posts: 5977
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9 years ago
Matt Shaw buys 100 shares of common stock for $8,000 in January. The value of the stock fluctuates in a narrow range (averaging $8,700) throughout the year. In November, when it has a value of $9,500, he donates it to a not-for-profit entity. On December 31, the stock has a fair value of $8,200. At what amount should the entity value the stock on its December 31 statement of financial position?
      a.   $8,000
      b.   $8,200
      c.   $8,700
      d.   $9,500
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3 Replies
Diesel
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Answer accepted by topic starter
f_zah1f_zah1
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9 years ago
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goji.go Author
wrote...
#2
9 years ago
Thanks so much f_zah1.

You were correct Smiling Face with Open Mouth
Diesel
wrote...
#3
9 years ago
You're very welcome!
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