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Record the acquisition of Whale Networks by Colt Corporation

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Question - Suppose Colt Corporation acquires Whale Networks, a small company that produces specialized computer programs, for $2,300,000 on October 12. Whale Networks' assets have a book value of $450,000 on October 12 and a market value of $350,000. Its liabilities have a market value of $275,000. Record the acquisition of Whale Networks by Colt Corporation.

Reference no: EM133129539

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