Discussion:Application of FASB 141 to an actual transaction
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Discussion Forum Index --> Accounting Questions --> Application of FASB 141 to an actual transaction
Wjalverson (talk|edits) said: | 22 April 2008 |
| I'm trying to understand the appropriate entries to record the purchase of one company by another. Company A purchases 100% of the outstanding stock of Company B for $10,000. On the purchase date the acquired company has assets of 1,000,000, liabilities of 1,400,000. Assuming that I've correctly valued the assets acquired, what entry do I make on the day of purchase, and what entries do I make at 12/31 to consolidate companies A & B?
Thank you. | |
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