Company Acquires Company B for 600,000 in cash and wants to prepare a consolidated worksheet dated to
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Company Acquires Company B for 600,000 in cash and wants to prepare a consolidated worksheet dated to the acquisition date. Company B has total assets of 600,000 liabilities of 200,000 common stock of 350,000 and retained earnings of 50,000.
Required
What is the correct excess value reclassification journal entry if the positive differential in the purchase is to be assigned to land.
Related Book For
Advanced Financial Accounting
ISBN: 978-0078025624
10th edition
Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker
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