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Plumb Company created Stew Company as a wholly owned subsidlary by transferring assets and accounts...

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Accounting

image Plumb Company created Stew Company as a wholly owned subsidlary by transferring assets and accounts payable to Stew In exchange for its common stock. Stew recorded the following entry when it recelved the assets and accounts payable: Required: a. What was Plumb's book value of the total assets (not net assets) transferred to Stew Company? b. What amount did Plumb report as its Investment in Stew after the transfer? c. What number of shares of $5 par value stock did Stew Issue to Plumb? d. What Impact did the transfer of assets and accounts payable have on the amount reported by Plumb as total assets? e. What impact did the transfer of assets and accounts payable have on the amount that Plumb and the consolidated entity report as shares outstanding? Complete this question by entering your answers in the tabs below. What was Plumb's book value of the total assets (not net assets) transferred to Stew Company

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