Parkovash, Incorporated, obtained 100 percent of Salerno Company's common stock on January 1,2023, by issuing...
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Parkovash, Incorporated, obtained percent of Salerno Company's common stock on January by issuing shares of $ par value common stock. Parkovash's shares had a $ per share fair value. On that date, Salerno reported a net book value of $ However, its equipment with a year remaining life was undervalued by $ in the company's accounting records. Also, Salerno had developed computer software with an assessed value of $ although no value had been recorded on Salerno's books. The computer software had an estimated remaining useful life of years.
The following balances come from the individual accounting records of these two companies as of December :
tableItemsParkovash,SalernoRevenues$$
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