Question
Lake Incorporated purchased all of the outstanding stock of Huron Company paying $950,000 cash. Lake assumed all of the liabilities of Huron. Book values and
Lake Incorporated purchased all of the outstanding stock of Huron Company paying $950,000 cash. Lake assumed all of the liabilities of Huron. Book values and fair values of acquired assets and liabilities were:
|
| Book Value | Fair Value |
| Current assets (net) | $130,000 | $125,000 |
| Property, plant, equip. (net) | 600,000 | 750,000 |
| Liabilities | 150,000 | 175,000 |
Lake would record goodwill of:
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Statutory Audits In Europe
Authors: Michael Kend, Giulia Leoni, Cristina Florio, Silvia Gaia
1st Edition
1032201738, 978-1032201733
