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please help me B/ 4/ Johns' Corp. acquires the net assets of Lion co, in a combination consummated on 12/30/2018, A&L Book value Fair value
please help me B/
4/ Johns' Corp. acquires the net assets of Lion co, in a combination consummated on 12/30/2018, A&L Book value Fair value Cash 110,000 110,000 Account receivable 200,000 250,000 Inventory 130,000 230,000 PPE 500,000 565,000 Total assets 940,000 1,155,000 Account payable 95,000 90,000 Tax payable 50,000 55,000 Other liabilities 70,000 100,000 Total liabilities 215,000 245,000 Net assets 725,000 910,000 a/ Johns' Corp. pays 600,000$ cash and issues 50,000 shares of Johns' Corp. 10$ par common stock with a market value of 188 per share for the net assets of Lion Co. Calculate the amount of Goodwill? Record the entry of the acquisition of the net assets? b/Johns' Corp. issues 50,000 shares of its 10$ par common stock with a market value of 18S per share, and it also give a 15%, five year note payable for 300,000 for the net assets of Lion Co. Calculate the gain amount for bargain purchase? Record the entry of the acquisition of the net assets
please help me B/
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