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Apple Company




Question;Apple Company paid $205,000 to acquire the net assets of Pop Company on April 1, 2014. The balance sheet data for the two companies and fair value information for Pop immediately before the business combination are as follows: Required:Give the journal entry (ies) that need to be recorded by Apple when it acquires Pop?s net assets.Prepare a balance sheet for Apple immediately following the acquisition.Give the journal entry (ies) that will be recorded by Apple if it acquires all of Pop?s common stock (instead of Pop?s net assets) for $205,000.


Paper#39819 | Written in 18-Jul-2015

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