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Prepare the journal entries on Metlock Company's books to record the exchange of stock. (If no entry is required, select No Entry for the account

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed Prepare the journal entries on Metlock 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.) On January 1,2023 , Metlock Company issued 1,520 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 Winds Company in a purchase transaction. Registration costs amounted to $1,300, paid in cash. Just prior to the acquisition, the balance sheets of the two companies were as follows:" Prepare the journal entries on Metlock 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.) Prepare a Computation and Allocation Schedule for the difference between book value and value implied by the purchase price. Prepare a Computation and Allocation Schedule for the difference between book value and value implied by the purchase price. Prepare a Computation and Allocation Schedule for the difference between book value and value implied by the purchase price. Prepare a consolidated balance sheet at the date of acquisition. (List assets in order of liquidity.) Prepare a consolidated balance sheet at the date of acquisition. (List assets in order of liquidity.) Liabilities and Stockholders' Equity $ I inhilitioc and Stockholders' Equity

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