Tobias AG purchased 90 percent of interest in Mark AG for $8,100,000 cash. Mark G had unrecorded patents on this date for $100,000. The balance sheet summary of Mark AG on arch 31, 2014 was as follows (in thousands). 

  

Prepare a schedule to allocate the excess of investment fair value over book value.

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Cash Inventories Land Buildings-net Equipment-net Current liabilities Notes payable Bonds payable Common stock, $10 par Retained earningss Book Value $1,000 $1,600 $3,000 $2,800 $3,900 $ 900 $1,800 $2,400 $2,000 $5,200 Fair Value $1,000 $2,000 $4,000 $2,500 $4,000 $ 900 $2,000 $2,000 Cash Inventories Land Buildings-net Equipment-net Current liabilities Notes payable Bonds payable Common stock, $10 par Retained earningss Book Value $1,000 $1,600 $3,000 $2,800 $3,900 $ 900 $1,800 $2,400 $2,000 $5,200 Fair Value $1,000 $2,000 $4,000 $2,500 $4,000 $ 900 $2,000 $2,000

Answer rating: 100% (QA)

Cash Inventories Land Building Equipment Total Current Lia... View the full answer