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Paul Corporation acquired 75 percent of Saul Company on January 1, 2021, by issuing 54000 shares of $1 par common stock. The market value
Paul Corporation acquired 75 percent of Saul Company on January 1, 2021, by issuing 54000 shares of $1 par common stock. The market value of the Paul stock on this date was $28 per share. Paul paid $64000 to a third party for help in arranging the business combination and $56000 to register and issue the shares issued in the acquisition On the acquisition date, Paul would record a debit to Investment in Saul in the amount of: NOTE: BE SURE TO TYPE A SIMPLE NUMBER WITH NO COMMAS OR DOLLAR SIGNS. FOR EXAMPLE, TYPE 1000 INSTEAD OF $1,000 Your Answer: Answer L
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