Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 01, 2024

Dear, Company A acquired company B for $1000000 cash, the fair market value of net assets of company B is $900000. Required: 1- Prepare journal

Dear,

Company A acquired company B for $1000000 cash, the fair market value of net assets of company B is $900000.

Required:

1- Prepare journal entry to record acquisition on records of the acquiring company.

2-Assume that net fair value of net assets is $1100000 what the journal entry would be on records of the acquiring company?

Regards,

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored 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

Financial Modeling

Authors: Simon Benninga

3rd Edition

0262026287, 9780262026284

More Books

Students also viewed these Accounting questions

Question

★★★★★

Which one of the following statements regarding pro-forma financial statements is false? a. Pro-forma financial statements include an income statement, a balance sheet, and a statement of cash flows....

Answered: 1 week ago

Question

★★★★★

A construction project has indirect costs totalling $40,000 per week Major activities in the project and their expected durations are shown in the following precedence network: Crashing costs for...

Answered: 1 week ago

Question

★★★★★

1.60 Picture Never Lies? Want to buy a 6-pack of energy water in Alberta? Watch the price. Below you will see a visual representation of a 6-pack of energy water in Alberta and British Columbia.22 a....

Answered: 1 week ago

Question

★★★★★

The financial statements of Marks and Spencer plc (M&S) are available at the books companion website or can be accessed at corporate.marksandspencer....

Answered: 1 week ago

Question

★★★★★

On December 31, 2017, before the books were closed, the management and accountants of Marigold Inc. made the following determinations about three pieces of equipment. 1. Equipment A was purchased...

Answered: 1 week ago

Question

★★★★★

CICB Limited makes one product and has provided the following information to prepare its master budget for the first four months of production: a. The budgeted selling price per unit is $70. Budgeted...

Answered: 1 week ago

Question

★★★★★

Assume that last year in a particular state with 700000 children there were 1307 children out of 33400 in a random sample who were diagnosed with Autism Spectrum Disorder. Nationally, 1 out of 88...

Answered: 1 week ago

Question

★★★★★

Exercise 14-30 (Algo) ROI versus RI (LO 14-2, 3) Albany Division is considering the acquisition of a new asset that will cost $540,000 and have a cash flow of $186,000 per year for each of the four...

Answered: 1 week ago

Question

★★★★★

In a famous study done in the 1960s two dolphins, Doris and Buzz, were trained to work together to earn fish. Doris was shown a light underwater. If the light was on steadily, her partner Buzz on the...

Answered: 1 week ago

Question

★★★★★

A gas with molecular weight of 35 kg/kmol, specific heat cp=1.049 kJ/kg.K, critical pressure of 27 bar, and critical temperature of 395 K undergoes a cooling process. At the end of the process the...

Answered: 1 week ago

Question

★★★★★

Suppose the chi-square statistic for a test was 6.991. If instead, the chi-square statistic had been 5.332, would the p-value be smaller, larger, or remain the same

Answered: 1 week ago

Question

★★★★★

Working individually or in groups, use the point system described in steps 1 to 16 in this chapter. Do so for a job description that you find onlinethe list at http://hiring...

Answered: 1 week ago

Question

★★★★★

Review our discussion of competencies in Chapter 4; then write three competency statements for one job you believe they would have at a company such as JLG. A useful competency statement includes...

Answered: 1 week ago

Question

★★★★★

Appendix A, PHR and SPHR Knowledge Base, at the end of this book (pages 580588) lists the knowledge someone studying for the HRCI certification exam needs to have in each area of human resource...

Answered: 1 week ago

Previous Question Next Question