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Complete the worksheet for the accounts paula- investment

Paula Company acquires 100% of the common stock of Shannon Company for $190,000 cash. On the acquisition date, Shannon's ledger shows Common Stock $120,000 and Retained Earnings $70,000. Complete the worksheet for the following accounts: Paula- Investment in Shannon Common Stock, Shannon-Common Stock, and Shannon Retained Earnings.

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Accounting Basics: Complete the worksheet for the accounts paula- investment

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