Help Save & Exit Juliana Corporation purchased all of the outstanding stock of Caldwell Inc.,...
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Help Save & Exit Juliana Corporation purchased all of the outstanding stock of Caldwell Inc., paying $4,200,000 cash. Juliana assumed all of the liabilities of Caldwell. Book values and fair values of acquired assets and liabilities were: Current assets (net) Property, plant, & equip. (net) Liabilities Book Value $ 260,000 1,550,000 460,000 Fair Value $ 460,000 2,070,000 790,000 Juliana would record goodwill of Multiple Choice O $2,690,000 $2.460.000 $7160,000 $330.000 Below is information relative to an exchange of similar assets by Grand Forks Corp. Assume the exchange has commercial substance. Old Equipment Book Value Fair Value $49.000 $60,500 $40,see $34,400 Cash Paid $15,300 $ 8,400 Case 8 In Case B Grand Forks would record a gain(loss) on exchange of assets in the amount of Multiple Choice $2,000 $6400 O $16.400) O $(2000)
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