Pyna acquired 100% of Syna's outstanding common stock on 6/1/06 for $690,000 cash. Selected information for Syna as of the acquisition date follows:
Required:
a. Prepare the entry to record the combination.
b. Prepare an analysis of the investment account by components.
c. Prepare all consolidation entries as of 6/1/06.

Question

Pyna acquired 100% of Syna's outstanding common stock on 6/1/06 for $690,000 cash. Selected information for Syna as of the acquisition date follows:
  Required:
a. Prepare the entry to record the combination.
b. Prepare an analysis of the investment account by components.
c. Prepare all consolidation entries as of 6/1/06.

Quizplus · Accepted Answer

The Answer of Pyna acquired 100% of Syna's outstanding common stock on 6/1/06 for $690,000 cash. Selected information for Syna as of the acquisition date follows:
  Required:
a. Prepare the entry to record the combination.
b. Prepare an analysis of the investment account by components.
c. Prepare all consolidation entries as of 6/1/06.

Pyna Acquired 100% of Syna's Outstanding Common Stock on 6/1/06