- During The Current Year Brewer Company Acquired All Of The Outstanding Common Stock Of Miller Inc Paying 12 000 000 C 1 (24.31 KiB) Viewed 21 times
During the current year, Brewer
Company acquired all of the outstanding common stock of Miller Inc. paying $12,000,000 cash. The book values and fair values of Miller's assets and liabilities acquired are listed below: Accounts receivable Inventories Property, plant, and equipment Accounts payable Bonds payable No Required: Prepare the journal entry to record the acquisition by Brewer
Company. (If no entry is required for a transaction/event, select "No. journal entry required" in the first account field.) 1 Transaction Book Value $1,800,000 2,700,000 9,000,000 3,000,000 4,500,000 Goodwill Cash Fair Value $ 1,625,000 4,000,000 11,625,000 3,000,000 4,125,000 Answer is not complete. General Journal. Debit 10,125,000 1,875,000 Credit 12,000,000