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Use the Following Information to Answer Bellow Questions Note: the Above Intangibles May or May Not All Meet

Question 91

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Use the following information to answer bellow Questions. Each question is independent.
Arnprior Corporation acquires all of the assets and liabilities of Bracebridge Company. The fair values of Bracebridge's reported assets and liabilities are estimated to be as follows at the date of acquisition:
 Fair Value  Tangible assets $1,650 Liabilities (1,450) Arnprior determines that Bracebridge has not recorded the following intangible assets on its books:  Fair Value  Customer lists $300 Brand names 140 Skilled workforce 400\begin{array}{l}\begin{array} { | l | c | } \hline & \text { Fair Value } \\\hline \text { Tangible assets } & \$ 1,650 \\\hline \text { Liabilities } & ( 1,450 ) \\\hline\end{array}\\\text { Arnprior determines that Bracebridge has not recorded the following intangible assets on its books: }\\\begin{array} { | l | c | } \hline & \text { Fair Value } \\\hline \text { Customer lists } & \$ 300 \\\hline \text { Brand names } & 140 \\\hline \text { Skilled workforce } & 400 \\\hline\end{array}\end{array} Note: The above intangibles may or may not all meet the standards for capitalization as identifiable intangible assets.
-Arnprior pays $2,000 in cash and 1,000 shares of $1 par stock to buy Bracebridge's outstanding stock. Arnprior's stock has a market value of $5/share. Arnprior pays $50 in registration fees to issue the stock, and $200 in consulting fees. All fees are paid in cash.
Required
Prepare the journal entry to record the acquisition on Arnprior's books. Arnprior treats the acquisition as a stock acquisition.

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