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Need answer On urgently . 31 F. Corporation issued bonds with a par value of $570,000 to purchase all S. Company's net assets on January
Need answer On urgently .
31 F. Corporation issued bonds with a par value of $570,000 to purchase all S. Company's net assets on January 1, 20X2 On that date, the fair value of the bonds issued by F. corporation was $554,000. The following balance shoot data were reported by S. corporation: Historical Cost Fair Vue Balance Sheet Hem Assets Cash & Receivables Inventory Land Plant & Equipment Less: Accumulated Depreciation Goodwill Total Assets $ 54,000 202.000 102.000 304.000 $ 57,000 107.000 69,000 412.000 (154.000) 14.000 $505.000 $662.000 $43.000 Liabilities & Equities Accounts Payable $ 43,000 Common Stock 91.000 Additional Paid In Capital 57.000 Retained Earrings 314,000 Total Liabilities & Equities $505.000 Required: Determine the amount Corporation would record in onberg Durchase and prepare the journal entry Co. would record at the time of the exchange Baran PurchaseStep by Step Solution
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