Question
ABC Company acquired 100% of Installed Components by issuing 200,000 shares of its $2 par value stock. The market value of the stock is $20
ABC Company acquired 100% of Installed Components by issuing 200,000 shares of its $2 par value stock. The market value of the stock is $20 per share. ABC also paid $20,000 in consulting fees related to the acquisition. ABC's journal entry to record the acquisition would include a credit to common stock of what amount?
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Financial Accounting Impact On Decision Makers
Authors: Gary A. Porter, Curtis L. Norton
7th Edition
1111464936, 978-1111464936
