Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. x co concluded that the fair value of h co was $40

X Co concluded that the fair value of H Co was $40,000 and paid that...

90.2K

Verified Solution

Question

Accounting

image

X Co concluded that the fair value of H Co was $40,000 and paid that amount to acquire all of its net assets. H co reported assets with a book value of $30,000 and fair value of $49,000 and liabilities with a book value and fair value of $11,500 on the date of combination. X also paid $1,500 for legal fees related to the acquisition. What amount will be recorded as Investment in H? Select one: O a. 40,000 b. 39,500 O c. 38,500 d. 41,500 Previous page Next page

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Spectrophotometric Analysis of Fe2+ using 1,10-phenanthroline Given the following data, calculate the percent by mass Fe2+ in the...

Chemistry
Q

calculate capacitance, inductance, resistance and conductance of two parallel wires transmission line

Electrical Engineering
Q

Phospholipids can be described as O a Any two molecules and a phosphate group attached...

Biology
Q

Weight of an object on earth s surface is 200 kg wt Then find out...

Physics
Q

Two particles A and B start moving with velocitie 20 m s and 30 2...

Physics
Q

Let y 70 b 12 and c 11 Solve triangle ABC

Basic Math
Q

Find the expected value for the random variable E X 0 X 2 P X...

Statistics
Q

Part 3: Suppose the field has a length of 6,000 feet. Sally buys fencing to...

Calculus
Q

The final cost per portion is $1.02. How do i do all the...

Accounting
Q

Requirement 1. Compute the cost and efficiency variances for direct materials and direct labor. ...

Accounting
Q

Current Attempt in Progress Crane Company began March with a $21,420 balance in Work in...

Accounting
Q

Raymore, a unit of Outdoor UnPlugged, manufactures a line of electric, cordless, lawn mowers. Senior...

Accounting