Chapter 2, Problem 4AFS

A.

To determine

State when the company record the measurement period adjustment, In your opinion this an appropriate use of measurement period adjustment, and explain.

B.

To determine

Prepare the journal entries that would have been needed to adjust the contingent consideration to zero and record the impairment of the intangibles. How does this differ from the company actually reported?

C.

To determine

Identify the incentives might management have for presenting their financial statements as they did rather than using the method that you  recorded in part B above.