The following data pertains to Questions
Keen and Lax Inc had the following balance sheets on October 31,2007:
-Assuming that Keen Inc.purchases 80% of Lax Inc.for $240,000,prepare any journal entries you feel are necessary on the date of acquisition prior to the preparation of Consolidated Financial Statements.Assume that the Entity Method applies.

Question

The following data pertains to Questions
Keen and Lax Inc had the following balance sheets on October 31,2007: 
-Assuming that Keen Inc.purchases 80% of Lax Inc.for $240,000,prepare any journal entries you feel are necessary on the date of acquisition prior to the preparation of Consolidated Financial Statements.Assume that the Entity Method applies.

Quizplus · Accepted Answer

The Answer of The following data pertains to Questions
Keen and Lax Inc had the following balance sheets on October 31,2007: 
-Assuming that Keen Inc.purchases 80% of Lax Inc.for $240,000,prepare any journal entries you feel are necessary on the date of acquisition prior to the preparation of Consolidated Financial Statements.Assume that the Entity Method applies.

The Following Data Pertains to Questions