Panther Company is acquiring the net assets of Sharon Company. The book and fair values of Sharon's accounts are as follows: 11eb5b63_5605_e9b1_bcf8_6d70519a3ef3_SM1534_00 What values will be assigned to current assets, land, building and equipment, the customer list, liabilities, goodwill, and gain under each of the following acquisition price scenarios? a. $800,000 b. $450,000

Advanced Accounting 11th Edition by Paul Fischer,William Tayler, Rita Cheng

Edition 11ISBN: 978-0538480284

Advanced Accounting 11th Edition by Paul Fischer,William Tayler, Rita Cheng

Edition 11ISBN: 978-0538480284

Exercise 31

Panther Company is acquiring the net assets of Sharon Company. The book and fair values of Sharon's accounts are as follows:

What values will be assigned to current assets, land, building and equipment, the customer list, liabilities, goodwill, and gain under each of the following acquisition price scenarios?
a. $800,000
b. $450,000

Explanation

Verified

Calculate goodwill or net asset (gain).
...