Bb Take Test: Exam 2 - 3288_USTO1_ x + .edu/webapps/assessment/take/launch.jsp?course_assessment_id=_36808_18/course_id=_36017_18

Additional Time Used; 06 minutes, 37 seconds. Question Completion Status: Pyroplex Corporation acquires the voting stock of Systembox Co. on January 1, 2015 at an acquisition cost of $15,300. Systembox's trial balance at the date of acquisition is as follows, along with fair value inforrnation for its identifiable net assets: Systembox trial balance, January 1, 2015 in thousands Current assets Plant & e ui ent Patents Customer order backl Trademarks Current liabilities Lon -term liabilities Common stock Additional paid-in ca ital Retained earni Total Book Value S 300 5,000 o o 200 1,400 (400) (2,ocn) Fair Value $ 300 2,000 5,000 2,500 1,000 200 1,300 Goodwill connected with this acquisition iS $6,000. As Of January 1, 2015, the reealuatiOe haveth06ildWiiig esQinited lives Plant & equipment Customer order backlog Trademarks Goodwill Long-term liabilities 20 years 10 years 5 years 10 years Impairment to beginning Of 2020: $200 Impairment in 2020: none 5 years Pyroplex uses the complete equity method to account for its investment in Systemboi On its own books. December 31, 2020 trial balances for Pyroplex and Systembox (six years after acquisition) appear in the consolidation working paper provided. Current assets plant & eq men net patents Investment in Systembox Custo er order backl Trademarks Pyroplex 4,200 260 ooo 17.600 Syste m box 650 20.000 Consol. Click Save and Submit to save and submit. Click Save All Answers to save all answers.