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I'm not sure if I did this correctly? See photo Universe Manufacturing decides to acquire a small local manufacturing company called Township Manufacturing. Township Manufacturing
I'm not sure if I did this correctly? See photo
Universe Manufacturing decides to acquire a small local manufacturing company called Township Manufacturing. Township Manufacturing has assets with a market value of $118,000 and no liabilities, but Universe Manufacturing pays $135.000. Use the accounting equation to record the purchase Use the accounting equation to record the purchase of Township Manufacturing (Use parentheses or a minus sign when entering component decreases. Use only the necessary input lines) Liabilities Account Shareholders' Equity Contributed Capital + Retained Earnings Account Account S $ Assets $ Account 118,000 Assets (135,000 Cash 17,000 Goodwill = =
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