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Case A - Issue stock and buy the assets in separate transactions: Acropolis Company issued 16,000 shares of its $25 par common stock for
Case A - Issue stock and buy the assets in separate transactions: Acropolis Company issued 16,000 shares of its $25 par common stock for cash of $756,000. In a separate transaction, Acropolis used the cash to purchase a building for $548,000 and equipment for $208,000. Journalize the two transactions. Case B - Issue stock to acquire the assets in a single transaction: Acropolis Company issued 16,000 shares of its $25 par common stock to acquire a building with a market value of $548,000 and equipment with a market value of $208,000. Journalize this transaction.
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