Question: Need help with this question Question 19 On January 1, 2019 Dennis Inc. acquired Larson Company's net assets in exchange for Dennis common stock with

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Need help with this question Question 19 On
Question 19 On January 1, 2019 Dennis Inc. acquired Larson Company's net assets in exchange for Dennis common stock with a par value of $100,000 and a fair value of $800,000. Dennis also paid $10,000 in direct acquisition costs, $20,000 in legal fees and $5,000 in stock registration fees. On this date, Larson's condensed account balances showed the following: Book Value Fair Value Current Assets $280,000 $370,000 Building 460,000 440,000 Accumulated Depreciation (100,000) Trademark 130,000 80,000 Current Liabilities (140,000) (140,000) Long-Term Debt (100,000) (100,000) Common Stock (200,000) Other Paid-in Capital (120,000) Retained Earnings (140,000) Goodwill 50,000 Patents 10,000 Record the Journal entries of Dennis purchase of Larson Company

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