The following data pertains to questions
Parent and Sub Inc had the following balance sheets on July 31,2006: Yours Inc's Book Values were equal to their Fair Values on the date of acquisition,with the exception of Yours' Plant and Equipment,which was worth $100,000.
-Assume that Mine Inc issued 10,000 shares for all of Yours Inc's Common Shares.Mine Inc's shares had a fair market value of $15 per share on that date.What entry would be made on Mine Inc's book on that date?

Question

The following data pertains to questions 
Parent and Sub Inc had the following balance sheets on July 31,2006:  Yours Inc's Book Values were equal to their Fair Values on the date of acquisition,with the exception of Yours' Plant and Equipment,which was worth $100,000.
-Assume that Mine Inc issued 10,000 shares for all of Yours Inc's Common Shares.Mine Inc's shares had a fair market value of $15 per share on that date.What entry would be made on Mine Inc's book on that date?

Quizplus · Accepted Answer

The Answer of The following data pertains to questions 
Parent and Sub Inc had the following balance sheets on July 31,2006:  Yours Inc's Book Values were equal to their Fair Values on the date of acquisition,with the exception of Yours' Plant and Equipment,which was worth $100,000.
-Assume that Mine Inc issued 10,000 shares for all of Yours Inc's Common Shares.Mine Inc's shares had a fair market value of $15 per share on that date.What entry would be made on Mine Inc's book on that date?

The Following Data Pertains to Questions