Question

Company S has no long-term marketable securities. Assume the following scenarios:
Case A
Assume that P Company paid $130,000 cash for 100% of the net assets of S Company.


Case B
Assume that P Company paid $110,000 cash for 100% of the net assets of S Company.


Case A
Assume that P Company paid $15,000 cash for 100% of the net assets of S Company.


Required:
Complete the following schedule by listing the amount that would be recorded on P’sbooks.


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  • CreatedMarch 13, 2015
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