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Parrott Corporation acquires the assets and liabilities of Swann Company. The fair values of Swann's reported assets and liabilities are estimated to be as follows at the date of acquisition.
Parrott determines that Swann has not recorded the following intangible assets on its books:
These intangibles may or may not all meet the standards for capitalization as identifiable intangible assets. Each of the following questions is independent.
-Parrott pays $6,000 in cash to buy all of Swann's assets and liabilities.
Required
a. How much in acquired previously unreported identifiable intangibles will Parrott report?
b. What is the fair value of identifiable net assets acquired?
c. How much goodwill does Parrott report?
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