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On June 30, 2017, Sunshine corp. acquired Woods corp. in a transaction properly accounted for as a business acquisition. At the time of the acquisition,
On June 30, 2017, Sunshine corp. acquired Woods corp. in a transaction properly accounted for as a business acquisition. At the time of the acquisition, some of the information for valuing assets was incomplete. How should Sunshine corp., account for the incomplete information in preparing its financial statements immediately after the acquisition? a. Record the uncertain items at the book value of the acquiree. b. Record a contra account to the investment account for the amounts involved. c. Record the uncertain items at a provisional amount measured at the date of acquisition. d. Do not record the uncertain items until complete information is available
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