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Genie Inc. is thinking about undertaking vertical integration by taking over the functions performed by one of their suppliers, Rogers Inc. Genie can either buy
Genie Inc. is thinking about undertaking vertical integration by taking over the functions performed by one of their suppliers, Rogers Inc. Genie can either buy the net assets of, or 100% of the outstanding stock of Rogers for $500,000 plus $10,000 in direct acquisition costs. Below is financial information for Rogers as of 7/1/201 : A) Complete the journal entry made by Genie to account for an asset purchase of Rogers on 7/1/201 by entering the proper amounts in the gray-shaded cells. Genie paid for the purchase price by issuing 10,000 shares of its stock which had a market value of $50 per share and a Par Value of $5 per share. When the correct amount is entered, the cell will change color: B) Complete the journal entry made by Rogers to account for the asset purchase by Genie on 7/1/201 by entering the proper amounts in he gray-shaded cells. When the correct amount is entered, the cell will change color: C) Complete the journal entry made by Genie to account for a stock purchase of Rogers on 7/1/201 by entering the proper amounts in the sray-shaded cells. Genie paid for the purchase price by issuing 10,000 shares of its stock which had a market value of $50 per share and a Par Value of $5 per share. When the correct amount is entered, the cell will change color
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