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USE THE FOLLOWING INFORMATION FOR #25: Motown Corporation purchases the following assets in a lump sum purchase signing a note payable with the bank. Total
USE THE FOLLOWING INFORMATION FOR #25: Motown Corporation purchases the following assets in a lump sum purchase signing a note payable with the bank. Total Purchase Price 2,000,000 Fair Book Market Asset Accounts Receivable Property, Plant & Equipment Inventory - (LIFO) Intangibles Total Value $ 156,000 $ 1,050,000 $ 156,000 $ 1,000,000 $ 2,362,000 Value $ 156,000 $ 975,400 $ 201,000 $ 1,300,000 $ 2,632,400 25.) Compute the amount to allocate to the intangible assets
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