Problem I. Lugo Corp. acquires the net assets of Ezequiel Corp., which has the following balance sheet:

Accounts Receivable	$ 50,000	Bonds Payable	$ 90,000
Inventory	80,000	Common Stock	100,000
Equipment, Net	50,000	Retained Earnings	110,000
Land & Building, Net	120,000	Total Liabilities and
Total Assets	$300,000	Stockholders' Equit	$300,000

Fair values on the date of acquisition:

Inventory $100,000

Equipment 30,000

Land & Building 180,000

Customer List 30,000

Bonds Payable 100,000

Direct acquisition costs: $10,000

If Lugo paid $300,000 what journal entries would be recorded by both Lugo Corp. and Ezequiel Corp.?

ANS: Problem I

General Journal Lugo Corp.
Date	Account Name	Debit	Credit

Value Analysis:

Price Paid including Direct Acquisition Cost		$
Fair Value Current Assets	$
Fair Value Liabilities
Fair Value Recorded Fixed Assets
Net Assets
Excess Attributable to Intangible Assets
Fair Value of Customer List
Goodwill

General Journal Ezequiel Corp.
Date	Account Name	Debit	Credit

Determine la Ganancia Obtenida
	$

thats all the informacin given

Problem I. Lupo Corpaquires the news of Corp. ich has the following balance sheet Inventory Equipement, Nel Land & Building Net Total A rt 530,000 Heads Payable 90.000 C Stock 30,000 Retained Eamings 129.000 Total Liabilities and $300.000 Stockholders' Equit Fair values the date of acquisitos: Inventory S100.000 Equipment 30.000 Land & Building 180,000 Hords Payable 10X Director : S10.000 I Lugo paid $300,000 what journal entries would be recorded by both Lugo Cap.and Ezequiel Corp.! ANS: Problem Generousluge Dehit Value Analysis: Price Pallincludin Direct Acoustic Cost Fair Vale Becorded Fixed Assets Net Assets Excess Attributable to Intangible Assets Fair Value of Customer List General Doumall.cuiel Co