Examine This Report on 357 cash
Examine This Report on 357 cash
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If The solution is not to report a gain, then we you take the cash and N/P off the guides, what is the other side on the entry - I suppose retained earnings.
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Again, all the things is being contributed to The brand new entity. This really is now my confusion. So it would seem that the contribution in the Cash and N/P would generate a $150 gain as being the liabilities exceed the assets. If the answer, is report a attain, that is simple. The achieve is described, retained earnings nets to $0, the stability sheet is evident along with the entity has a $0 foundation during the NewCo entity.
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