Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 17, 2024

ABC Co. is acquiring XYZ Inc. XYZ has the following Intangible assets: Patent on a product that is deemed to have no useful life $10,000.

ABC Co. is acquiring XYZ Inc. XYZ has the following Intangible assets:

Patent on a product that is deemed to have no useful life $10,000.

Customer List with an observable fair value of $50,000.

A 5-year operating lease with favorable terms with a discounted

present value of $8,000.

Identifiable R & D of $100,000.

ABC will record how much for acquired Intangible Assets from the Purchase of XYZ Inc?_______________

Please show work

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Legal Environment of Business A Managerial Approach Theory to Practice

Authors: Sean Melvin, Enrique Guerra Pujol

3rd edition

1259686205, 978-1259686207

Students also viewed these Accounting questions

Question

★★★★★

(a) Explain which of the following products is formed when the epoxide reactant is treated with methoxide ion in methanol. (b) Explain which of the products from part a is formed when the epoxide...

Answered: 1 week ago

Question

★★★★★

True Or False Merely obstructing a plaintiff from taking the route they prefer is grounds for false imprisonment.

Answered: 1 week ago

Question

★★★★★

Let X be a continuous random variable with density f . Suppose Y is another random variable which is related to X by (i) Prove that the density function, fY (y), of Y is related to f by the formula...

Answered: 1 week ago

Question

★★★★★

You have completed an audit of activities within the purchasing department of your company. The department employs 30 buyers, seven supervisors, a manager, and clerical personnel. Purchases total...

Answered: 1 week ago

Question

★★★★★

Terry Chemicals processes a single raw material, Clean-Z, in Department 1 of its main production facility. Out of the joint process in Department 1, two products emerge: Azyne and Bethanol. Azyne is...

Answered: 1 week ago

Question

★★★★★

Paying the Tax 4. Complete the following table: Tax Paid by Depositor Monthly Semiweekly 4-Quarter Look-Back Period Tax Liability $28,000 $66,000 Payroll Paid November On Wednesday On Thursday On...

Answered: 1 week ago

Question

★★★★★

3-7. The box of a dump truck pivots at A and has a force of 850 lb applied by a hydraulic cylinder as shown in Figure P3-7. Determine the moment about A due to this force. 63 850 lb 30 A FIGURE P3-7

Answered: 1 week ago

Question

★★★★★

One of Lauren's responsibilities as the director of graduate enrollment was to make the first night of class in the MBA program, known as Base Camp, a welcoming and impressive event. She assembled...

Answered: 1 week ago

Question

★★★★★

An electronics store kept records of sales of tablets for the previous month. Those buying a tablet had the option of buying an additional warranty for their item. It was also recorded whether the...

Answered: 1 week ago

Question

★★★★★

2.11 LAB: Importing packages Import the necessary modules and read in a csv file. The homes dataset contains 18 features giving the characteristics of 76 homes being sold. The modules will be used...

Answered: 1 week ago

Question

★★★★★

If a byte is written to an ECC memory module that has four-bit values set to 1, and four set to 0, which type of parity information will be used?

Answered: 1 week ago

Question

★★★★★

Religious heritage can be influential to a national culture and impact its business environment. Sharia is derived from the Islamic faith and is primarily a concept guiding a country's _____________....

Answered: 1 week ago

Previous Question Next Question