Question
Lake Incorporated purchased all of the outstanding stock of Huron Company paying $965,000 cash. Lake assumed all of the liabilities of Huron. Book values and
Lake Incorporated purchased all of the outstanding stock of Huron Company paying $965,000 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) | $ | 130,500 | $ | 124,900 | |||
| Property, plant, equip. (net) | 616,000 | 756,000 | |||||
| Liabilities | 151,700 | 176,000 | |||||
Lake would record goodwill of:
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The Consolations Of Economics How We Will All Benefit From The New World Order
Authors: Gerard Lyons
1st Edition
0571307795, 9780571307791
