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HELP Albuquerque, Inc., acquired 27000 shares of Marmon Company several years ago for $810,000 At the acquisition date, Marmon reported acquisition-date fair value over book
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Albuquerque, Inc., acquired 27000 shares of Marmon Company several years ago for $810,000 At the acquisition date, Marmon reported acquisition-date fair value over book value was assig this point, Marmon has issued no additional shares. No impairment has been recognized for the broadcast lic a book value of $890.000, and Albuquerque assessed the fair value of the noncontrolling interest at $90,000. Any excess of ned to broadcast licenses with indefinite lives. Since the acquisition date and until At the present time. Marmon reports $950,000 as total stockholders equity, which is broken down as follows 300,000 310, 000 340, 000 950, 000 Additional paid-in capital earningss Total ew the following as independent situations a. & b. Marmon sells 15,000 and 6,000 shares of previously unissued common stock to the public for $34 and $27 per share. Albuquerque purchased none of this stock. What journal entry should Albuquerque make to recognize the impact of this stock transaction? (If no entry is required for e transaction/event, select "No journal entry required" in the first account field. Do not round your intermediate calculations.) Journal entry worksheet Record the entry to recognize the impact of selling of 15,000 sharesStep by Step Solution
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