Provo Company acquires (100 %) of the common stock of Stanton Company for ($ 180,000) cash. On
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Provo Company acquires \(100 \%\) of the common stock of Stanton Company for \(\$ 180,000\) cash. On the acquisition date, Stanton's ledger shows Common Stock \(\$ 120,000\) and Retained Earnings \(\$ 60,000\). Complete the work sheet for the following accounts: ProvoInvestment in Stanton Common Stock, Stanton-Common Stock, and Stanton-Retained Earnings.
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Related Book For 
Financial Accounting
ISBN: 9780471169208
2nd Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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