Question
NEED ASAP 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
NEED ASAP
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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Managerial Accounting
Authors: Cataldo Cpa II, Cma Cgma A J
2nd Edition
1634929241, 978-1634929240
