{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-27T07:04:08-04:00", "answer_date": "2024-05-27 07:04:08", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1784133", "url": "\/study-help\/questions\/on-january-1-patterson-corporation-acquired-80-percent-of-the-1784133", "question_creation_date_js": "2024-05-27T07:04:08-04:00", "question_creation_date": "May 27, 2024 07:04 AM", "meta_title": "[Solved] On January 1, Patterson Corporation acqui | SolutionInn", "meta_description": "Answer of - On January 1, Patterson Corporation acquired 80 percent of the 100,000 outstanding voting shares of Soriano, Inc., in | SolutionInn", "meta_keywords": "january,1,patterson,corporation,acquired,80,percent,100,000,outstanding,voting,shares,soriano", "question_title_h1": " On January 1, Patterson Corporation acquired 80 percent of the 100,000 outstanding voting shares of Soriano, Inc., in exchange for $31.25 per share cash.", "question_title": " On January 1, Patterson Corporation acquired 80 percent of the 100,000", "question_title_for_js_snippet": "On January 1, Patterson Corporation acquired 80 percent of the 100,000 outstanding voting shares of Soriano, Inc , in exchange for $31 25 per share cash The remaining 20 percent of Soriano's shares continued to trade for $30 both before and after Patterson's acquisition At January 1, Soriano's book and fair values were as follows Current assets Buildings and equipment Trademarks Patented technology Current liabilities Long term notes payable Common stock Additional paid in capital Retained earnings $ Book Values 80,000 1,250,000 Fair Values $ 80,000 Remaining Life 1,000,000 5 years 700,000 940,000 900,000 10 years 2,000,000 4 years $ 2,970,000 $ 180,000 1,500,000 $ 180,000 1,500,000 50,000 500,000 740,000 $ 2,970,000 In addition, Patterson assigned a $600,000 value to certain unpatented technologies recently developed by Soriano These technologies were estimated to have a three year remaining life ", "question_description": "\"image\"image", "transcribed_text": "On January 1, Patterson Corporation acquired 80 percent of the 100,000 outstanding voting shares of Soriano, Inc., in exchange for $31.25 per share cash. The remaining 20 percent of Soriano's shares continued to trade for $30 both before and after Patterson's acquisition. At January 1, Soriano's book and fair values were as follows: Current assets Buildings and equipment Trademarks Patented technology Current liabilities Long-term notes payable Common stock Additional paid-in capital Retained earnings $ Book Values 80,000 1,250,000 Fair Values $ 80,000 Remaining Life 1,000,000 5 years 700,000 940,000 900,000 10 years 2,000,000 4 years $ 2,970,000 $ 180,000 1,500,000 $ 180,000 1,500,000 50,000 500,000 740,000 $ 2,970,000 In addition, Patterson assigned a $600,000 value to certain unpatented technologies recently developed by Soriano. These technologies were estimated to have a three-year remaining life.", "related_book": { "title": "International Accounting", "isbn": "978-0136111474, 0136111475", "edition": "7th Edition", "authors": "Frederick D. Choi, Gary K. Meek", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/127.jpg", "uri": "\/textbooks\/international-accounting-7th-edition-9780136111474", "see_more_uri": "" }, "free_related_book": { "isbn": "979-8854111935", "uri": "\/textbooks\/why-i-swore-to-never-hire-a-goon-979-8854111935-156165", "name": "Why I Swore To Never Hire A Goon", "edition": "" }, "question_posted": "2024-05-27 07:04:08", "see_more_questions_link": "\/study-help\/questions\/business-banking-2021-September-12", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/questions\/1-the-two-taxes-paid-on-most-purchases-are-the-322887", "description": "1. The two taxes paid on most purchases are the amount of each tax is % and and the % respectively. 2. Use the \"10% + 5%\" method of estimating total cost. 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