The XYZ Company purchased the ABC Company for $520,000 cash.ABC's assets had been appraised at $410,000.ABC had liabilities of $40,000,which XYZ assumed.How would the purchase of ABC affect XYZ's financial statements?

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The Answer of The XYZ Company purchased the ABC Company for $520,000 cash.ABC's assets had been appraised at $410,000.ABC had liabilities of $40,000,which XYZ assumed.How would the purchase of ABC affect XYZ's financial statements?

The XYZ Company Purchased the ABC Company for $520,000 Cash