Mans Company Is About to Purchase the Net Assets of Eagle

Essay

Mans Company is about to purchase the net assets of Eagle Inc., which has the following balance sheet:
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Mans has secured the following fair values of Eagle's accounts:
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$$\begin{array} { l r } \text { Inventory } & \$ 130,000 \\\text { Equipment } & 60,000 \\\text { Land and buildings } & 260,000 \\\text { Bonds payable } & 60,000\end{array}$$ Acquisition costs were $20,000.
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Required:
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Record the entry for the purchase of the net assets of Eagle by Mans at the following cash prices:
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a.$450,000
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b.$310,000
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c.$480,000
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