On April 25 2010 Bullseye Company purchased all of the outstanding common stock of Vista Company paying $14000000. The book values and fair values of Vistas assets and liabilities acquired are shown below in dollar amounts:Accounts Book Value Fair ValueAccounts Receivables $1900000 $1725000Inventories $2800000 $4000000Accounts Payable $2000000 $2000000Property Plant and Equipment $8000000 $12625000Bonds Payable $4600000 $4225000Required:Prepare the journal entry to record the acquisition by Bullseye Company.
Written on May 6th, 2018 by
On April 25 2010 Bullseye Company purchased all of the outstanding common stock
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