On March 1, 2011, the Sefkwak Company paid $400,000 for all the issued and outstanding stock of Bodo Corporation in a transaction properly accounted for as a purchase. The market values of the assets and liabilities of Bodo Corporation on March 1, 2011, are as follows:

Make the journal entry necessary for Sefkwak to record the purchase.

Question

On March 1, 2011, the Sefkwak Company paid $400,000 for all the issued and outstanding stock of Bodo Corporation in a transaction properly accounted for as a purchase. The market values of the assets and liabilities of Bodo Corporation on March 1, 2011, are as follows:
  
Make the journal entry necessary for Sefkwak to record the purchase.

Quizplus · Accepted Answer

The Answer of On March 1, 2011, the Sefkwak Company paid $400,000 for all the issued and outstanding stock of Bodo Corporation in a transaction properly accounted for as a purchase. The market values of the assets and liabilities of Bodo Corporation on March 1, 2011, are as follows:
  
Make the journal entry necessary for Sefkwak to record the purchase.

On March 1, 2011, the Sefkwak Company Paid $400,000 for All