Question: Advanced Accounting : HW Assignment Chapter 2 : Stock Acquisition: 8 5 % # 2 . On Dec 3 1 s t 2 0 2

Advanced Accounting : HW Assignment
Chapter 2: Stock Acquisition: 85%
#2. On Dec 31st2020, Pip's Puppy Company = Parent Corporation purchases 85% of the stock of Keira's Kitten Company = Subsidiary for $725,000 cash.
On that date, Keira's kittens had the following balances:
Book Value
FMV
\table[[Cash,$15,000,],[Accts Rec,$25,000,],[Inventory,$55,000,$95,000
Advanced Accounting : HW Assignment Chapter 2: Stock Acquisition: 85% #2.

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