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Prepare a Computation and Allocation Schedule for the difference between book value and value implied by the purchase price. List of Accounts Attempts: 0 of
Prepare a Computation and Allocation Schedule for the difference between book value and value implied by the purchase price. List of Accounts Attempts: 0 of 2 used On January 1,2023 , Splish Company issued 1,490 of its $20 par value common shares with a fair value of $60 per share in exchange for the 2,000 outstanding common shares of Novak Company in a purchase transaction. Registration costs amounted to $1,500, paid in cash. Just prior to the acquisition, the balance sheets of the two companies were as follows: Any difference between the book value of equity and the value implied by the purchase price relates to goodwill. Assets $ Prepare the journal entries on Splish Company's books to record the exchange of stock. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.)
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