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please answer this question3 Chapter 3: Consolidation of Financial Information Acquisition Method When Dissolution Takes Place Parrot Company acquired 100% of the voting common stock
please answer this question3
Chapter 3: Consolidation of Financial Information Acquisition Method When Dissolution Takes Place Parrot Company acquired 100% of the voting common stock of Sun Company on January 1 acquires this stock for $800,000 in cash. The book values as well as the appraised fair values of Sun's account follow , 2017. Parrot Sun Sun Fair Value Difference Book Value 320,000$320,000 Current Assets Trademarks (indefinite life) 200,000 220,00020O00 Patented Technology (10yrs 320,000450,000 life) Equipment (5 year life) (30,000 180,000| 150,000 | (300 (420,000 (420,000) Sun Incote 10p,000 Liabilities 600.000 | 720,000 | 000 | 720,000|201m el? Net Book Value Common Stock Additional Paid-in Capital (200,000) (20,000) Retained Earnings 1/1/17 0,000) |Step by Step Solution
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