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Pedro Corporation acquired 70 percent of strop company on January 2020 by issuing 19,000 shares of 1$ par common stock. The market value of the
Pedro Corporation acquired 70 percent of strop company on January 2020 by issuing 19,000 shares of 1$ par common stock. The market value of the Pedro stock on this date was 14$ per share.
Pedro paid $12,000 to the third party for help in arranging the business combination and $6000 to register and issue the shares issued in the acquisition.
Debit to acquisition expense for:
Debit to investment in S for :
Credit to common stock :
Credit to APIC :
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