Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Allocating Purchase Price Adobe Systems Inc. reports the following footnote to its 10-K report. Fotolia On January 27, 2015, we completed our acquisition of privately

Allocating Purchase Price Adobe Systems Inc. reports the following footnote to its 10-K report. Fotolia On January 27, 2015, we completed our acquisition of privately held Fotolia, a leading marketplace for royalty-free photos, images, graphics and HD videos. During the first quarter of fiscal 2015, we began integrating Fotolia into our Digital Media reportable segment. Under the acquisition method of accounting, the total final purchase price was allocated to Fotolias net tangible and intangible assets based upon their estimated fair values as of January 27, 2015. The total final purchase price for Fotolia was $807.5 million of which $745.1 million was allocated to goodwill that was nondeductible for tax purposes, $204.4 million to identifiable intangible assets and $142.0 million to net liabilities assumed. a. Of the total assets acquired, what portion is allocated to net intangible assets? Round answer to one decimal place (ex: 0.2345 = 23.5%)

Answer

% What portion was allocated to tangible assets such as inventory and PPE?

Answer

%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Auditing And Assurance Services

Authors: Robert Ramsay, Timothy J Louwers

4th Edition

007739657X, 978-0077396572

More Books

Students also viewed these Accounting questions

Question

1. List the basic factors determining pay rates.pg 87

Answered: 1 week ago