Question: Please explain how the answer is -7000. 29. On December 31, 2018, Pumpkin Ltd. purchased 100% of the outstanding shares of Squash Inc. for $40,000.

Please explain how the answer is -7000. 29. On December 31, 2018, Pumpkin Ltd. purchased 100% of the outstanding shares of Squash Inc. for $40,000. Balance sheets of both companies prior to the busine...

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