Question
URGENT A company made the following journal entry as a result of a transaction: Cash XXX Inventory XXX Land XXX Building XXX Goodwill XXX Accounts
URGENT
A company made the following journal entry as a result of a transaction:
| Cash | XXX | |||
| Inventory | XXX | |||
| Land | XXX | |||
| Building | XXX | |||
| Goodwill | XXX | |||
| Accounts Payable | XXX | |||
| Notes Payable | XXX | |||
| Common Stock | XXX | |||
| APIC | XXX | |||
What asset and liability values were used in the journal entry?
| cannot be determined | ||
| book values | ||
| fair market values | ||
| average values |
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Bed And Breakfast IRS Audit Techniques Guide
Authors: Internal Revenue Service
1st Edition
1304131793, 978-1304131799
