Use the Following Information for Questions 112 Through 114

question 109

Multiple Choice

Use the following information for questions 112 through 114.
Two independent companies, Hager Co. and Shaw Co., are in the home building business. Each owns a tract of land held for development, but each would prefer to build on the other's land. They agree to exchange their land. An appraiser was hired, and from her report and the companies' records, the following information was obtained: The exchange was made, and based on the difference in appraised fair values, Shaw paid $60,000 to Hager. The exchange lacked commercial substance.
-The new land should be recorded on Shaw's books at

• A) $240,000.
• B) $300,000.
• C) $420,000.
• D) $480,000.

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Definitions:

Coelom

A fluid-filled cavity between the gut and body wall that is lined by tissue derived from mesoderm; the main body cavity of most animals.

Radula

A toothed, chitinous ribbon in the mouth of molluscs, used for scraping or cutting food before ingestion.

Molluscan

Pertaining to mollusks, a diverse group of invertebrates which includes species like snails, clams, and octopuses, characterized by a soft body and, in many cases, a calcium carbonate shell.

Conspicuous Segmentation

The clear division of a body or structure into distinct parts, commonly observed in organisms like worms and arthropods.