Required:

d. On September 22, 2020, Asure determines that because of an increase in demand RedBoxs products since the date of acquisition, the brand names recorded at the date of acquisition have increased in value by $2,000. In addition, the earnout agreements at fair value has declined by $1,000.

Required:

For the independent situation, prepare Asures journal entry, if any, to record the information.

E2.15 LO 3 Changes in Acquisition Values On October 1, 2019, Asure Corporation acquires the net assets of BlueBox Inc. and records the acquisition as a merger. Asure's acquisition entry looks like this (amounts in thousands): Current assets .............. Plant and equipment ......... Identifiable intangibles.. Goodwill .......... Notes payable .............. . . Cash ........................................ Earnout liability ....................... 6,000 20,000 40,000 350,000 50,000 350,000 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