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What amount should the land be recorded in the books

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Reference no: EM132859051

Question 1: On October 17, CORAL Company issued 15,000 shares of its ?100 par ordinary share in acquiring a land that has a fair value of ? 1,700,000 during that date. The ordinary share is actively selling at ?120 per share. On December 31, the land has a fair value of ?2,100,000. At what amount should the Land be recorded in the books of CORAL? 

Option 1: ? 1,500,000

Option 2: ? 2,100,000

Option 3: ? 1,800,000

Option 4: ? 1,700,000

Reference no: EM132859051

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