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Jam Co. acquired another company for $2M. The following were acquired; Book value Fair value Short term investment $300K $300K Inventory $90K $75K Land $500K
Jam Co. acquired another company for $2M. The following were acquired; Book value Fair value Short term investment $300K $300K Inventory $90K $75K Land $500K $100K Customer list $400K $600K Payable $50K $50K How should they record the transaction? Question 44Select one: a. dr. cash $2M b. Dr. payables $50K c. Dr. Goodwill $960K d. Dr. Invention $90K e. Cr. Goodwill $960K
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Financial Accounting
Authors: Walter Jr. Harrison, Charles T. Horngren, C. William Thomas, Greg Berberich, Catherine Seguin
6th Canadian edition
134564146, 978-0134141091, 134141091, 978-0134564142
