Homework answers / question archive / HAMAD TOWN CO agreed and paid cash of $600,000 to purchase ZALINQ Co which has the following statement of financial position as of December 31, 2019 ZALLAO CO Statement of Financial Position Ases Equity and abilities Buildings $175,000 Share Capital Ordinary $115,000 Machines ther) 0,000 Retained Earrings 225,000 Inventory 80

HAMAD TOWN CO agreed and paid cash of $600,000 to purchase ZALINQ Co which has the following statement of financial position as of December 31, 2019 ZALLAO CO Statement of Financial Position Ases Equity and abilities Buildings $175,000 Share Capital Ordinary $115,000 Machines ther) 0,000 Retained Earrings 225,000 Inventory 80

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HAMAD TOWN CO agreed and paid cash of $600,000 to purchase ZALINQ Co which has the following statement of financial position as of December 31, 2019 ZALLAO CO Statement of Financial Position Ases Equity and abilities Buildings $175,000 Share Capital Ordinary $115,000 Machines ther) 0,000 Retained Earrings 225,000 Inventory 80.500 Accounts Payable 133,000 Accounts Receivable 115,000 $2,500 Total S473,000 Total 5473,000 The two companies sed on the following fair value for Biosk 10,000 twentory 585,000 and Machines (et) is 55,300. Also thy rood tisto charge on all other assets and Babies Required (1) Pre the entry for HAMAD TOWN Co to record cuisition of NLA (2) On Dec 2020 cose that the carrying amount of nets Online Goodwill $55,000 and the recoverable amount 5490,000. Determind record the moment of only if not, wie "No Entry