On January 1, 20X1, Honey Bee Corporation purchased the net assets of Green Hornet Company for $1,500,000. On this date, a condensed balance sheet for Green Hornet showed:
Required:
Record the entry on Honey Bee's books for the acquisition of Green Hornet's net assets.

Question

On January 1, 20X1, Honey Bee Corporation purchased the net assets of Green Hornet Company for $1,500,000. On this date, a condensed balance sheet for Green Hornet showed:
  Required:
Record the entry on Honey Bee's books for the acquisition of Green Hornet's net assets.

Quizplus · Accepted Answer

The Answer of On January 1, 20X1, Honey Bee Corporation purchased the net assets of Green Hornet Company for $1,500,000. On this date, a condensed balance sheet for Green Hornet showed:
  Required:
Record the entry on Honey Bee's books for the acquisition of Green Hornet's net assets.

On January 1, 20X1, Honey Bee Corporation Purchased the Net