E 4-2 Consolidation under the equity method Nur PJSC purchased 80 percent outstanding common stock of Salim

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E 4-2 Consolidation under the equity method Nur PJSC purchased 80 percent outstanding common stock of Salim PJSC for $800,000 cash on January 1, 2014.

The total net assets of Salim PJSC at the time of the acquisition were $900,000. At that time, the identified net assets book values of Salim PJSC was equal to fair values, except for an unrecorded patent to the amount of $20,000 with a 10-year remaining useful life.

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Advanced Accounting

ISBN: 9781292214597

13th Global Edition

Authors: Joseph H. Anthony, Bruce Bettinghaus, Floyd A. Beams, Kenneth Smith

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