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Business, 15.11.2019 21:31 kamrulh278

South company purchased north company. south company paid $550,000 cash and assumed all of north company’s liabilities. on the date of purchase, north’s books showed tangible assets of $500,000, liabilities of $20,000, and equity of $480,000. an appraiser assessed the fair market value of the tangible assets at $530,000 on the acquisition date. which of the following journal entries would be required to record the purchase of north company on south company’s books?

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South company purchased north company. south company paid $550,000 cash and assumed all of north com...
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