Question
On January 4, 2017, Abbott acquired all of the outstanding stock of St. Jude Medical, in exchange for $13.6 billion in cash and $10.0 billion
On January 4, 2017, Abbott acquired all of the outstanding stock of St. Jude Medical, in exchange for $13.6 billion in cash and $10.0 billion in Abbott stock. Referring to Abbotts 2017 financial statements and its 2016 press release announcing the acquisition, answer the following questions regarding the St. Jude Medical acquisition.
What accounting method was used, and for what amount, to record the acquisition?
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Forensic And Investigative Accounting
Authors: Crumbley D. Larry, Fenton Edmund D., Jr. Smith G. Stevenson
9th Edition
0808053221, 9780808053224
