Question: In business combination, which of the following would not be recognized as part of business combination? a. Contingent assets b. Contingent liability c. Goodwill d.

In business combination, which of the following would not be recognized as part of business combination? a. Contingent assets b. Contingent liability c. Goodwill d. Fair value of the consideration transferred

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

With respect to the recognition of goodwill in a business combination, which of the following statements is true? Multiple Choice Only US GAAP requires recognition of goodwill when the fair value of...

10. Current GAAP identifies three approaches to assigning values to assets acquired in a business combination. Which of the following is not a recognized valuation technique for allocating the...

Accounting 13. On January 1, 20X1, Delta Corp. acquired the net assets of Bravo Corp. in a business combination. At that date, the property, plant and equipment of Bravo had a book value of...

Required with solution Business Combination 37 a. 13-&. Continued On April 27, 2017 it was determined that the inventory of Ana had a fair value of P380,000, and the property and equipment (net) had...

Pace Corporation acquired 100 percent of Spin Company's common stock on January 1, 20X9. Balance sheet data for the two companies immediately following the acquisition follow: Item Pace Corporation...

U ! - - - - -- Pace Corporation acquired 100 percent of Spin Company's common stock on January 1, 20X9. Balance sheet data for the two companies immediately following the acquisition follows: Spin...

need it ASAP please 5 multiple choice Peace Corporation acquired 100 percent of Star Company's common stock on January 1, 2020. Balance sheet data for the two companies immediately following the...

23_Top Corporation acquired 100% of Sun Corporations common stock on December 31,2019. Balance sheet data for the two companies immediately following the acquisition TOP SUN Cash $ 49,000 $ 30,000...

PART D: 2 Case Analysis, (2*15=30 Marks) of ABC Ltd. Receives cash at gradual and steady rate of Rs. 3,50,000 p.a. The cash can be invested by the company to give a return of 12% p.a. However every...

wrong answer will fetch you a downvote incomplete answer will fetch you a downvote Use the following information to answer questions 3 through 7. Pace Corporation acquired 100 percent of Spin...

How does a statement of retained earnings act as a link between an income statement and a balance sheet?

Give an example of a preventive control.

Belnap Company has provided the following partial comparative balance sheets and the income statement for 20X2. Required: Compute operating cash flows using the direct method. Belnap Company...

The force constant of a massless spring is 2 5 . 0 N / m . A mass of 0 . 4 5 kg is oscillating in simple harmonic motion at the end of the spring

25. LO.5, 6 Cougar, Inc., is a calendar year S corporation. Cougars Form 1120S shows nonseparately stated ordinary income of $80,000 for the year. Johnny owns 40% of the Cougar stock throughout the...

12. LO.6, 7 Junies share of her S corporations net operating loss is $50,000, but her stock basis is only $30,000. Point out the Federal income tax consequences that Junie must face.

15. LO.4 Maul, Inc., a calendar year S corporation, incurred the following items. Tax-exempt interest income $ 7,000 Sales 140,000 Depreciation recapture income 12,000 Long-term capital gain 20,000 ...