Question: Problem 2-13 (LO 4, 5, 6, 7, 8, 9) 80% purchase, goodwill, several adjustments, worksheet. Use the preceding information for Purnells purchase of Soma common

Problem 2-13 (LO 4, 5, 6, 7, 8, 9) 80% purchase, goodwill, several adjustments, worksheet. Use the preceding information for Purnell’s purchase of Soma common stock. Assume Purnell exchanged 19,000 shares of its own stock for 80% of the common stock of Soma.

The stock had a market value of $50 per share and a par value of $1. Purnell had the following trial balance immediately after the purchase:

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