![subject](/tpl/images/cats/ekonomika.png)
Business, 19.05.2021 19:00 jeffljr7385
Bargain Purchase: Sontag Corporation's net assets have fair values as described below.
Current assets $250,000
Land 600,000
Building 1,000,000
Loans payable 300,000
The Pratt Company pays $3,000,000 for Sontag Corporation, and records the acquisition as a merger. Pratt Company determines that identifiable intangibles valued at $1, 500,000, not previously reported on Sontag's books, also are recognized as acquired assets.
Required:
1. Prepare a schedule to calculate the gain on acquisition.
2. Prepare Pratt's journal entry to record the merger.
3. Now assume Pratt determines that Sontag Corporation has unreported contingent liabilities, reportable at the date of acquisition following GAAP, with a fair value of $75,000. Recalculate the gain on acquisition.
![ansver](/tpl/images/cats/User.png)
Answers: 1
![](/tpl/images/ask_question.png)
![](/tpl/images/ask_question_mob.png)
Other questions on the subject: Business
![image](/tpl/images/cats/ekonomika.png)
Business, 22.06.2019 15:00, samanthamunevar7218
Which of the following is least likely to a team solve problems together
Answers: 1
![image](/tpl/images/cats/ekonomika.png)
Business, 22.06.2019 22:40, aupein
Southeastern oklahoma state university's business program has the facilities and faculty to handle an enrollment of 2,000 new students per semester. however, in an effort to limit class sizes to a "reasonable" level (under 200 generally), southeastern's dean, holly lutze, placed a ceiling on enrollment of 1,600 new students. although there was ample demand for business courses last semester, conflicting schedules allowed only 1,440 new students to take business courses. the utilization rate for southeastern=%the efficiency rate for southeastern=%
Answers: 3
![image](/tpl/images/cats/ekonomika.png)
You know the right answer?
Bargain Purchase: Sontag Corporation's net assets have fair values as described below.
Current asse...
Questions in other subjects:
![Konu](/tpl/images/cats/obshestvoznanie.png)
Social Studies, 04.02.2021 16:40
![Konu](/tpl/images/cats/mat.png)
![Konu](/tpl/images/cats/mat.png)
![Konu](/tpl/images/cats/himiya.png)
Chemistry, 04.02.2021 16:40
![Konu](/tpl/images/cats/es.png)
Spanish, 04.02.2021 16:40
![Konu](/tpl/images/cats/biologiya.png)
Biology, 04.02.2021 16:40
![Konu](/tpl/images/cats/obshestvoznanie.png)
Social Studies, 04.02.2021 16:40
![Konu](/tpl/images/cats/mkx.png)
Arts, 04.02.2021 16:40
![Konu](/tpl/images/cats/mat.png)
Mathematics, 04.02.2021 16:40
![Konu](/tpl/images/cats/mir.png)
World Languages, 04.02.2021 16:40