Question

Allerton Company acquires all of Deluxe Company’s assets and liabilities for cash on January 1, 2015, and subsequently formally dissolves Deluxe. At the acquisition date, the following book and fair values were available for the Deluxe Company accounts:


Prepare Allerton’s entry to record its acquisition of Deluxe in its accounting records assuming the following cash exchange amounts:
(1) $145,000.
(2)$110,000.


$1.99
Sales5
Views429
Comments0
  • CreatedJanuary 08, 2015
  • Files Included
Post your question
5000