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 165 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
Gracias!

Bigfoot1984

  • Member
  • Posts: 321
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Thyroid conditions may make getting pregnant impossible.

Did you know?

Green tea is able to stop the scent of garlic or onion from causing bad breath.

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

A slave market in Marrakesh, Morocco. This lithograph is from the 1800s. A slave market in Marrakesh, Morocco. This lithograph is from the 1800s.
Reconstruction Drawing of Trajan's Market Reconstruction Drawing of Trajan's Market
Stock Market Question Stock Market Question
Nine $10 000, 4% bonds with interest payable semi-annually and redeemable at par are purchased ... Nine $10 000, 4% bonds with interest payable semi-annually and redeemable at par are purchased ...
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 ...
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: Leukemia

For a complete list of videos, visit our video library