Snowflake Corp. Penguin,Inc.acquires 100% of the outstanding shares of Snowflake Corp.for $2,250,000 and accounts for the transaction using the purchase method.Snowflake's balance sheet at the acquisition date is as follows:
Based on the information concerning Snowflake Corp.by what amount would Penguin increase depreciable assets when it consolidates Snowflake on the acquisition date?

Question

Snowflake Corp. Penguin,Inc.acquires 100% of the outstanding shares of Snowflake Corp.for $2,250,000 and accounts for the transaction using the purchase method.Snowflake's balance sheet at the acquisition date is as follows:
 Based on the information concerning Snowflake Corp.by what amount would Penguin increase depreciable assets when it consolidates Snowflake on the acquisition date?

Quizplus · Accepted Answer

The Answer of Snowflake Corp. Penguin,Inc.acquires 100% of the outstanding shares of Snowflake Corp.for $2,250,000 and accounts for the transaction using the purchase method.Snowflake's balance sheet at the acquisition date is as follows:
 Based on the information concerning Snowflake Corp.by what amount would Penguin increase depreciable assets when it consolidates Snowflake on the acquisition date?