Paper Company acquired 80 percent of Scissor Company??soutstanding common stock for $296,000 on January 1, 20X8, when thebook value of Scissor??s net assets was equal

Paper Company acquired 80 percent of Scissor Companyâ??soutstanding common stock for $296,000 on January 1, 20X8, when thebook value of Scissorâ??s net assets was equal to $370,000. Paperuses the e 1 answer