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Can you answer these questions for me? Perry Company acquires 100% of the stock of Hurley Corporation on January 1, 2010, for $3,800 cash. As
Can you answer these questions for me?
Perry Company acquires 100% of the stock of Hurley Corporation on January 1, 2010, for $3,800 cash. As of that date Hurley has the following trial balance; Any excess of consideration transferred over fair value of net assets acquired is considered goodwill with an indefinite life. FIFO inventory valuation method is used. Compute the amount of total expenses reported in an income statement for the year ended December 31, 2010, in order to recognize acquisition-date allocations of fair value and book value differences, A. B. C. D. E. $140. $190. $260. $285. $310. 8. Following are selected accounts for Green Corporation and Vega Company as of December 31, 2013. Several of Green's accounts have been omitted. Green acquired 100% of Vega on January 1, 2009, by issuing 10,500 shares of its $10 par value common stock with a fair value of $95 per share. On January 1, 2009, Vega's land was undervalued by $40,000, its buildings were overvalued by $30,000, and equipment was undervalued by $80,000. The buildings have a 20-year life and the equipment has a 10-year life. $50,000 was attributed to an unrecorded trademark with a 16-year remaining life. There was no goodwill associated with this investment. Compute the December 31, 2013, consolidated revenuesStep by Step Solution
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