Gideon Electronics paid $200,000 to acquire Tabletz, Inc, an electronic gadget-advertising website
At the time of the acquisition, Tabletz's balance sheet reported total assets of $200,000 and liabilities of $100,000. The fair market value of Tabletz's assets was $200,000. The fair market value of its liabilities was $100,000. Journalize the acquisition of Tabletz in the books of Gideon Electronics.
What will be an ideal response
Assets 200,000
Goodwill 100,000
Liabilities 100,000
Cash 200,000
Business
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