Compute the Fair Value of net assets acquired at the date of the acquisition????

Question

Compute the Fair Value of net assets acquired at the date of the acquisition????

a 1300

b 1340

c 1500

d 1750

e 2480

Atwood Franz Co Franz Co (all numbers are in thousands) Book Value 12/31/20X1 Book Value 12/31/20X1 Fair Value 12/31/20X1 $ 240 $ 240 $ 870 660 1,230 1.800 1.800 Cash Receivables Inventorv Land Buildings (net) Equipment (net) Accounts payable Accrued eXpenses Long-term liabilities Common stock ($20 par) Common stock (S5 par) Additional paid-in capital Retained earnings Revenues Expenses 600 420 260 540 380 (240) (60) (1,020) 600 580 250 650 400 (240) (60) (1,120) 660 (570) (270) (2,700) (1,980) (420) (180) (480) (660) 620 (210) (1,170) (2,880) 2,760

Explanation / Answer

Compute the Fair Value of net assets acquired at the date of the acquisition????

a 1300

Cash 240 Receivables 600 Inventory 580 Land 250 Building 650 Equipment 400 Fair Value of Asset A 2720 Account Payable 240 Accrude Expense 60 Long term liabilities 1120 Fair Value of Liabilities 1420 Fair Value of net asset A-B 1300

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