(Solution) - Organic Juices Inc acquires Healthy Snax Corporation for 50 million -(2025 Original AI-Free Solution)

Paper Details

Organic Juices, Inc. acquires Healthy Snax Corporation for $50 million in cash, in a statutory merger. Healthy Snax' balance sheet at the date of acquisition is as follows (in millions):

A consulting firm values Healthy Snax' plant and equipment at $40 million and its intangibles at $25 million. There are no unreported identifiable intangibles, and all other assets and liabilities are fairly reported.
Required
Prepare the journal entry Organic Juices makes to record its acquisition of Healthy Snax