Alpha Company used debentures with a par valueof $660,000 to acquire 100% of Zeta, on January 1, 2013. On that date the fair value of the debentures issued was $644,000. The following balance sheet data were reported by Zeta at the point of the acquisition: Historical Cost Fair Value Cash and Receivabled 80,000 75,000 Inventory 145,000 200,000 Land 75,000 75,000 Plant & Equipment 450,000 350,000 Less: Accumulated Depreciation -170,000 Total Assets 580,000 700,000 Accounts Payable 50,000 50,000 Common Stock 100,000 Additional Paid i n Capital 60,000 Retained Earnings 370,000 Total Liabilities & Equity 580,000 Prepare the entry to record the above transaction.

Alpha Company used debentures with a par valueof $660,000 to acquire 100% of Zeta, on January 1, 2013. On that date the fair value of the debentures issued was $644,000. The following balance sheet...

Prepare the entry to record the above transaction.

Jun 09, 2022