Assume X Corp creates a subsidiary, Y Corp, and invests $500,000 cash in exchange for all of
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Assume X Corp creates a subsidiary, Y Corp, and invests $500,000 cash in exchange for all of the $1 par common stock (2,000 shares).
What would journal entries X and Y make at the time of the investment?
Related Book For
Advanced Financial Accounting
ISBN: 978-0078025624
10th edition
Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker
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