Windsor Industries purchased all the following assets and liabilities of Protector Goods for $906,000 cash: Accounts Receivable Inventory Property, Plant & Equipment (net) Land Accounts Payable Notes Payable Book Value S 136,000 83,000 519,000 148,000 89,000 108,000 Fair Value $136,000 91,000 644,000 170,000 89,000 108,000 Prepare the appropriate journal entries for Windsor Industries on acquisition.
Windsor Industries purchased all the following assets and liabilities of Protector Goods for $906,000 cash: Accounts Receivable Inventory Property, Plant & Equipment (net) Land Accounts Payable Notes Payable Book Value S 136,000 83,000 519,000 148,000 89,000 108,000 Fair Value $136,000 91,000 644,000 170,000 89,000 108,000 Prepare the appropriate journal entries for Windsor Industries on acquisition.
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Windsor Industries purchased all the following assets and liabilities of Protector Goods for $906,000 cash: Accounts
Receivable Inventory Property, Plant & Equipment (net) Land Accounts Payable Notes Payable Book Value S
136,000 83,000 519,000 148,000 89,000 108,000 Fair Value $136,000 91,000 644,000 170,000 89,000 108,000
Prepare the appropriate journal entries for Windsor Industries on acquisition.
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