Gideon Electronics paid $200,000 to acquire Tabletz,Inc. ,an electronic gadget-advertising website.At the time of the acquisition,Tabletz's balance sheet reported total assets of $200,000 and liabilities of $100,000.The fair market value of Tabletz's assets was $200,000.The fair market value of its liabilities was $100,000.Journalize the acquisition of Tabletz in the books of Gideon Electronics.

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The Answer of Gideon Electronics paid $200,000 to acquire Tabletz,Inc. ,an electronic gadget-advertising website.At the time of the acquisition,Tabletz's balance sheet reported total assets of $200,000 and liabilities of $100,000.The fair market value of Tabletz's assets was $200,000.The fair market value of its liabilities was $100,000.Journalize the acquisition of Tabletz in the books of Gideon Electronics.

Gideon Electronics Paid $200,000 to Acquire Tabletz,Inc