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Keen and Lax Inc had the following balance sheets on October 31,2007:
-Assume once again that Keen Purchases 100% of Lax.However,in this instance,Keen acquired Lax for only $100,000.Prepare any journal entries you feel are necessary on the date of acquisition prior to the preparation of Consolidated Financial Statements.

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The following data pertains to Questions
Keen and Lax Inc had the following balance sheets on October 31,2007: 
-Assume once again that Keen Purchases 100% of Lax.However,in this instance,Keen acquired Lax for only $100,000.Prepare any journal entries you feel are necessary on the date of acquisition prior to the preparation of Consolidated Financial Statements.

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The Answer of The following data pertains to Questions
Keen and Lax Inc had the following balance sheets on October 31,2007: 
-Assume once again that Keen Purchases 100% of Lax.However,in this instance,Keen acquired Lax for only $100,000.Prepare any journal entries you feel are necessary on the date of acquisition prior to the preparation of Consolidated Financial Statements.

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