Question: Not sure what i am looking for Exercise 5-3 Pace Company purchased 20,000 of the 25,000 shares of Saddler Corporation for $532,000. On January 3,

Not sure what i am looking for

Exercise 5-3 Pace Company purchased 20,000 of the 25,000 shares of Saddler Corporation for $532,000. On January 3, 2014, the acquisition date, Saddler Corporation's capital stock and retained earnings account balances were $500,300 and $100,900, respectively. The following values were determined for Saddler Corporation on the date of purchase: Book Value Fair Value Inventory $50,700 $69,900 Other current assets 201,000 201,000 Marketable securities 101,400 124,200 Plant and equipment 296,000 324,700 (a) Prepare the entry on the books of Pace Company to record its investment in Saddler Corporation. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit

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