Pregunta 2 Necesita calificación On August 15, 2021. Willis inc. acquired all of the outstanding common stock of Bork Inc. paying $7,400,000 cash. The book values and fair values of Bork's assets and liabilities are listed below: Accounts receivable Inventories Property, plant, and equipment Accounts payable Bonds payable Book Value Fair Value $1,080,000 $975,000 1,620,000 2,400,000 5,400,000 6,975,000 1,800,000 1,800,000 2,700,000 2,475,000 Required: Prepare the journal entry to record the acquisition by willis Inc.
Pregunta 2 Necesita calificación On August 15, 2021. Willis inc. acquired all of the outstanding common stock of Bork Inc. paying $7,400,000 cash. The book values and fair values of Bork's assets and liabilities are listed below: Accounts receivable Inventories Property, plant, and equipment Accounts payable Bonds payable Book Value Fair Value $1,080,000 $975,000 1,620,000 2,400,000 5,400,000 6,975,000 1,800,000 1,800,000 2,700,000 2,475,000 Required: Prepare the journal entry to record the acquisition by willis Inc.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Pregunta 2 Necesita calificación On August 15, 2021. Willis inc. acquired all of the
outstanding common stock of Bork Inc. paying $7,400,000 cash. The book values and
fair values of Bork's assets and liabilities are listed below: Accounts receivable
Inventories Property, plant, and equipment Accounts payable Bonds payable Book
Value Fair Value $1,080,000 $975,000 1,620,000 2,400,000 5,400,000 6,975,000
1,800,000 1,800,000 2,700,000 2,475,000 Required: Prepare the journal entry to
record the acquisition by willis Inc.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc6e4155c-628d-478f-8d37-cc106f1ce1c2%2F3911eb3c-2f45-4063-aef7-c3877d9f2277%2Fjt526sa_processed.png&w=3840&q=75)
Transcribed Image Text:Pregunta 2 Necesita calificación On August 15, 2021. Willis inc. acquired all of the
outstanding common stock of Bork Inc. paying $7,400,000 cash. The book values and
fair values of Bork's assets and liabilities are listed below: Accounts receivable
Inventories Property, plant, and equipment Accounts payable Bonds payable Book
Value Fair Value $1,080,000 $975,000 1,620,000 2,400,000 5,400,000 6,975,000
1,800,000 1,800,000 2,700,000 2,475,000 Required: Prepare the journal entry to
record the acquisition by willis Inc.
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