Aqua Corp.purchased 30% of the common stock of Marcus Co.by paying $500,000.Of this amount, $50,000 is associated with goodwill.
Required:
Prepare the journal entry to record Aqua's investment.

Question

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The Answer of Aqua Corp.purchased 30% of the common stock of Marcus Co.by paying $500,000.Of this amount, $50,000 is associated with goodwill.
Required:
Prepare the journal entry to record Aqua's investment.

Aqua CorpPurchased 30% of the Common Stock of Marcus Co