On January 1, 2019, Phoenix Co. acquired 100 percent of theoutstanding voting shares of Sedona Inc. for $680,000 cash. AtJanuary 1, 2019, Sedona??s net assets

On January 1, 2019, Phoenix Co. acquired 100 percent of theoutstanding voting shares of Sedona Inc. for $680,000 cash. AtJanuary 1, 2019, Sedonaâ??s net assets had a total carrying amount of$476,00 2 answers