The following information pertains to Questions
Telecom Inc has decided to purchase the shares of Intron Inc.for $300,000 in Cash on July 1,2009.On the date,the balance sheets of each of these companies were as follows: 
On that date,the fair values of Intron's Assets and Liabilities were as follows: 
-Assume that Intron's Assets and Liabilities were purchased instead of its shares for $300,000.Prepare the journal entry to record this purchase.
Definitions:
Scientific Method
A systematic process for acquiring knowledge that involves observation, experimentation, and hypothesis testing.
Symptoms
Signs or indications of a disease or condition that are experienced by an individual.
Problem Finders
Individuals or tools designed to identify issues within a process or system.
Fishbone Diagram
A visual tool used for identifying and organizing the causes of a problem, typically resembling the shape of a fishbone.
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