Business, 25.01.2020 02:31 yasdallasj
Bower company purchased lark corporation’s net assets on january 3, 20x2, for $632,000 cash. in addition, bower incurred $9,000 of direct costs in consummating the combination. at the time of acquisition, lark reported the following historical cost and current market data:
balance sheet item book value fair value
assets
cash & receivables $ 57,000 $ 57,000
inventory 114,000 165,000
buildings & equipment (net) 207,000 307,000
patent — 203,000
total assets $ 378,000 $ 732,000
liabilities & equities
accounts payable $ 20,000 $ 20,000
common stock 98,000
additional paid-in capital 66,000
retained earnings 194,000
total liabilities & equities $ 378,000
required:
prepare the journal entry or entries with which bower recorded its acquisition of lark’s net assets. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)
record the payment of merger costs.
record the acquisition of lark corporation net asets.
Answers: 2
Business, 21.06.2019 23:30
Select the correct answer. the word intestate means that a person has died with or without a will?
Answers: 1
Business, 22.06.2019 11:00
What is the correct percentage of texas teachers charged with ethics violations each year?
Answers: 2
Business, 22.06.2019 14:30
Which of the following is an example of a positive externality? a. promoting generic drugs would benefit people. b. a lower inflation rate would benefit most consumers. c. compulsory flu shots for all students prevents the spread of illness in the general public. d. singapore has adopted a comprehensive savings plan for all workers known as the central provident fund.
Answers: 1
Business, 22.06.2019 16:30
Which of the following has the largest impact on opportunity cost
Answers: 2
Bower company purchased lark corporation’s net assets on january 3, 20x2, for $632,000 cash. in addi...
History, 18.11.2020 18:20
Mathematics, 18.11.2020 18:20
Biology, 18.11.2020 18:20
Spanish, 18.11.2020 18:20
Geography, 18.11.2020 18:20
Chemistry, 18.11.2020 18:20
Mathematics, 18.11.2020 18:20
History, 18.11.2020 18:20
Physics, 18.11.2020 18:20
Social Studies, 18.11.2020 18:20
Mathematics, 18.11.2020 18:20