Question
Samuel Corporation purchased the following assets from Harvey Corporation for $1,500,000 . An independent appraisal of the fair value of the assets acquired is listed
Samuel Corporation purchased the following assets from Harvey Corporation for $1,500,000. An independent appraisal of the fair value of the assets acquired is listed below:
Land........................ $171,600
Building 514,800
Equipment.600,600
Inventory...429,000
Required:
Prepare the journal entry to record the purchase of the assets.
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Management Accounting Text Problems And Cases
Authors: M Y Khan, P K Jain
6th Edition
125902668X, 978-1259026683
