Peter Inc. acquired 100% of the outstanding Common Stock of Simran Inc. for $ __250,000__ cash and _10,000_ shares of its own common stock ($1 par value), which was trading at $_5_ per share at the acquisition date. [2 + 3 Marks] (a) Determine the Acquisition Cost.
1) Peter Inc. acquired 100% of the outstanding Common Stock of Simran Inc. for $ __250,000__ cash and _10,000_ shares of its own common stock ($1 par value), which was trading at $_5_ per share at the acquisition date. [2 + 3 Marks] (a) Determine the Acquisition Cost. (b) Pass Journal Entry in the Book … Read more