2 value: 6.00 points P1-26 Incomplete Data on Creation of Subsidiary LO 1-3 Thumb Company...
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2 value: 6.00 points P1-26 Incomplete Data on Creation of Subsidiary LO 1-3 Thumb Company created New Companya payable to New in exchange for its common assets and accounts payable d subsidiary by transferring assets and accounts ecorded the following entry when it received the Cash Accounts Receivable Inventory Land Buildings Equipment 27,000 9,000 70,000 60,000 Accounts Payable Accumulated Depreciation Buildings Accumulated Depreciation Equipment Common Stock Additional Paid-In Capital 14.000 21,000 12,000 40,000 98,000 Required
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