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Author Question: Wonderland, Inc. purchased Cheshire Co. for $820,000. The market value of Cheshire's assets and ... (Read 160 times)

silviawilliams41

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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
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Marked as best answer by silviawilliams41 on Feb 18, 2020

Dinolord

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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.
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silviawilliams41

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Reply 2 on: Feb 18, 2020
YES! Correct, THANKS for helping me on my review

shewald78

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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