Question: Answer blz Pass a single Journal Entry of Excess Value Reclassication from the following information assuming that the subsidiary is 100% owned. Decrease in the

Answer blz

Pass a single Journal Entry of Excess Value Reclassication from the following information assuming that the subsidiary is 100% owned. Decrease in the Book Value of Notes Receivable $ 60,000 Increase in the Book Value of Land $ 130,000 Value of Old Goodwill $ 100,000 Value of New Goodwill $ 280,000 Increase in the Book Value of Building & Equipment $ 110,000 Increase in the Book Value of Patent 90,000 Decrease in the Book Value of Long Term Debt $ 70,000

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