Question

What will be the journal entry for purchase of an existing business

Answer 1

Answer:

Purchase acquisition accounting is now the standard way to record the purchase of a company on the balance sheet of the acquiring company. The assets of the acquired company are recorded as assets of the acquirer at fair market value. This method of accounting increases the fair market value of the acquiring company.

Explanation:

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Answer 2

Answer:

purchased a running business at 100000 give journal entry