This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Wonderland, Inc. purchased Cheshire Co. for $820,000. The market value of Cheshire's assets and ... (Read 81 times)

silviawilliams41

  • Hero Member
  • *****
  • Posts: 560
on: Feb 18, 2020
Wonderland, Inc. purchased Cheshire Co. for $820,000. The market value of Cheshire's assets and liabilities at the time of purchase were $980,000 and $320,000 respectively. The journal entry to record this will include:
◦ debit to Asset accounts for $980,000, credit to Gain on Investments $160,000 and credit to Cash $820,000.
◦ debit to Investments for $820,000, credit to Cash $820,000.
◦ debit to Asset accounts for $980,000, debit to Goodwill $160,000, credit to Liabilities $320,000 and credit to Cash $820,000.
◦ debit to Investments for $980,000, credit to Cash $820,000 and credit to Gain on Investment $160,000.
Financial Accounting ¦ Kemp, Waybright ¦ 5th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by silviawilliams41 on Feb 18, 2020

Dinolord

  • Sr. Member
  • ****
  • Posts: 313
Reply #1 on: Feb 18, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 39% of students answer this correctly


silviawilliams41

  • Member
  • Posts: 560
Reply 2 on: Feb 18, 2020
Thanks for the timely response, appreciate it

juliaf

  • Member
  • Posts: 344
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

Asthma is the most common chronic childhood disease in the world. Most children who develop asthma have symptoms before they are 5 years old.

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Did you know?

Asthma cases in Americans are about 75% higher today than they were in 1980.

Norway lobsters on sale at a Spanish market Norway lobsters on sale at a Spanish market
Hydroelectric power: 2013 Global Market Hydroelectric power: 2013 Global Market
A government of Ontario 364-day T-bills with a face value of $50 000 were purchased on January ... A government of Ontario 364-day T-bills with a face value of $50 000 were purchased on January ...
Iraqi market Iraqi market
A company purchased 26 desks for $240 each and 18 chairs for $59 each. Compute the total ... A company purchased 26 desks for $240 each and 18 chairs for $59 each. Compute the total ...
Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ... Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ...
Video: Protein catabolism (Krebs cycle) and Protein anabolism (protein synthesis)

For a complete list of videos, visit our video library