Pony Corporation acquired all of Stallion Companys common shares on January 1, 20X5, for $180,000....
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Accounting
Pony Corporation acquired all of Stallion Companys common shares on January 1, 20X5, for $180,000. On that date, the book value of the net assets reported by Stallion was $150,000. The entire differential was assigned to depreciable assets with a six-year remaining economic life from January 1, 20X5.
The adjusted trial balances for the two companies on December 31, 20X5, are as follows:
