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On October 19, 2019, Asure Corporation acquires the net assets of BlusBox Inc. and records the acquisition as a merger. Asure's acquisition entry looks like
On October 19, 2019, Asure Corporation acquires the net assets of BlusBox Inc. and records the acquisition as a merger. Asure's acquisition entry looks like this (amounts in thousands): 6,000 20,000 Identifiable Intangible40,00p 350,000 Plant and Equipment. Goodwil Notes Payabl.e. Earnout Liability. 16,000 Brand names and customer lists with a 4-year life comprise the identifiable intangibles. Assume any asset write-offs are current as of the date the new information is discovered. Required For each of the following independent situations, prepare Asuresjournal entry, if any, to record the information (amounts are in thousands). b. On March 15, 2020, Asure learns that inventory mistakenly valued at $500 at the date of acquisition was really worth $100 at that time. The inventory has been sold
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