Intermediate Accounting
1st Edition
ISBN: 9780132162302
Author: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
Publisher: PEARSON
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Question
Chapter 11, Problem 11.16BE
To determine
To prepare:
Given information:
Purchase price is $750,000.
Estimated value of trademark is $312,000.
Estimated value of customer list is $468,000.
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On September 1, 20Y8, Vernon Corporation acquired Barlow Enterprises for a cash payment of $2,300,000. At the time of acquisition, Barlow's balance sheet showed assets of $1,800,000, liabilities of $600,000, and owner's equity of $1,200,000. A recent appraisal indicated that the fair value of Barlow's assets is estimated to be $2,100,000.
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State transfer fees
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Required:
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Chapter 11 Solutions
Intermediate Accounting
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