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I.On January 1, 2022, Lang corporation acquired all capital stock of Van corporation for $3,400,000 cash. The accounts of Lang and the assets and liabilities
I.On January 1, 2022, Lang corporation acquired all capital stock of Van corporation for $3,400,000 cash. The accounts of Lang and the assets and liabilities of Van, on December 31, 2021, are as follows: Required: 1.Prepare the journal entries for the acquisition on Lang's books. 2.Prepare a consolidated balance sheet inmediately after the combination. 3.Assuming that Lang acquire 85% of Van capital stock instead of the 100%, paying $2,890,000 : a.Prepare the journal entries for the acquisition on Lang's books. b.Prepare a consolidated balance sheet inmediately after the combination
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