Meta Platforms, Inc. (formerly known as Facebook, Inc ) paid $1,000,000,000 to purchase all of Instagram's assets and assumed liabilities of $70,000,000. The acquired assets
Meta Platforms, Inc. (formerly known as Facebook, Inc ) paid $1,000,000,000 to purchase all of Instagram's assets and assumed liabilities of $70,000,000. The acquired assets were appraised at a fair value of $200,000,000.
Fill in the account name for the following Journal Entry:
| Date | Account | Debit | Credit |
|
|
| $870,000,000 |
|
|
| $200,000,000 | ||
|
|
|
| $70,000,000 |
|
|
|
| $1,000,000,000 |
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Authors: Laura R. Ingraham, C. Janie Chang
1st Edition
0471450871, 978-0471450870
