Journal entries to record an acquisitionPan Company issued 480,000 shares of $10 par commo...

Journal entries to record an acquisition

Pan Company issued 480,000 shares of $10 par common stock with a fair value of $10,200,000 for all the voting common stock of Set Company. In addition, Pan incurred the following costs:

Immediately before the acquisition in which Set Company was dissolved, Set’s assets and equities were as follows (in thousands):

REQUIRED: Prepare all journal entries on Pan’s books to record the acquisition.