Solution-Record the entry for the purchase of the net

Record the entry for the purchase of the net assets of stw

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Reference no: EM131784004

Assignment

MNO acquired STW's net assets. At the time of the acquisition STW's Balance sheet was as follows:

Accounts Receivable	$140,000
Inventory	80,000
Equipment, Net	40,000
Building, Net	270,000
Land	150,000
Total Assets	$680,000

Bonds Payable	$100,000
Common Stock	50,000
Retained Earnings	450,000
Total Liabilities and Stockholders' Equity	$600,000

Record the entry for the purchase of the net assets of STW at the following cash prices:

a. $800,000

b. $310,000

Reference no: EM131784004

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Record the entry for the purchase of the net assets of stw

Reference no: EM131784004

Reference no: EM131784004

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