QUESTION 5 P Company created a subsidiary s Company through internal expansion and transferred the following net assets to Company S. In return, Company S issued 10,000 shares at $5 par common stock. The journal entry that would make to record this transaction would include a P Company Book Values 290,000 100,000 100,000 400,000 150,000 80,000 50,000 1,000 P Company Market Values 290,000 p0,000 140,000 300,000 Cash Inventory Land Plant & Equipment Accumulated Depreciation Current Liabilities Bonds Payable Premium on Bonds Payable 80,000 51,000 Credit to bonds payable of 50,000 Debit to bonds payable of 51,000 Credit to bonds payable of 51,000 Debit to bonds payable of 50,000 QUESTION 6