Question
On January 1, 2020, Company XX acquires Company YY for $12,000,000. The fair value of Company YYs net identifiable assets is $9,000,000. Prepare the journal
On January 1, 2020, Company XX acquires Company YY for $12,000,000. The fair value of Company YY’s net identifiable assets is $9,000,000.
Prepare the journal entry to record the acquisition, including the recognition of goodwill.
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Intermediate accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
7th edition
978-0077614041, 9780077446475, 77614046, 007744647X, 77647092, 978-0077647094
