Canto Ltd,a Spanish corporation,acquired 100% interest in Bevo,Inc.,a U.S.corporation for $50,000,000. The net assets of Bevo had a book value of $35,000,000 and a fair value of $56,000,000. How should Canto record the business combination?
A)Entry A
B)Entry B
C)Entry C
D)Entry D

Question

Canto Ltd,a Spanish corporation,acquired 100% interest in Bevo,Inc.,a U.S.corporation for $50,000,000. The net assets of Bevo had a book value of $35,000,000 and a fair value of $56,000,000. How should Canto record the business combination? 
A)Entry A 
B)Entry B 
C)Entry C 
D)Entry D

Quizplus · Accepted Answer

The Answer of Canto Ltd,a Spanish corporation,acquired 100% interest in Bevo,Inc.,a U.S.corporation for $50,000,000. The net assets of Bevo had a book value of $35,000,000 and a fair value of $56,000,000. How should Canto record the business combination? 
A)Entry A 
B)Entry B 
C)Entry C 
D)Entry D

Canto Ltd,a Spanish Corporation,acquired 100% Interest in Bevo,Inc