Problem 11-1 Consider Marjean Company Accounts Receivables Inventory Fixed Assets Accum Deprec Module 11 Homework...
70.2K
Verified Solution
Link Copied!
Question
Accounting
Problem 11-1 Consider Marjean Company Accounts Receivables Inventory Fixed Assets Accum Deprec Module 11 Homework $900,000 100.000 $200,000 300,000 800,000 Accounts Payable Note Payable Owners' Equity Common Stock Retained Earnings 250,000 400,000 200,000 450,000 Burden Company will buy this company (Marjean Co) for $975,000. Burden estimates that the Accounts Receivables are worth $180,000, the Inventory is worth $310,000 and the Fixed Assets are worth $740,000. Everything else is worth its book value. Prepare the journal entry made by Burden to record the purchase.
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.