Pop,Inc.acquires 100% of the outstanding shares of Snap Corp.for $3,923,450 and accounts for the transaction using the purchase method.The purchase price Pop paid for Snap exceeded Snap's book value for four reasons:
Information about Pop and Snap's balance sheet at the acquisition date and the current market value of Snap's assets appears below:
Required: Complete the table for Snap's current market values and the consolidated amounts at the date of acquisition.

Question

Pop,Inc.acquires 100% of the outstanding shares of Snap Corp.for $3,923,450 and accounts for the transaction using the purchase method.The purchase price Pop paid for Snap exceeded Snap's book value for four reasons:
  Information about Pop and Snap's balance sheet at the acquisition date and the current market value of Snap's assets appears below:
  Required: Complete the table for Snap's current market values and the consolidated amounts at the date of acquisition.

Quizplus · Accepted Answer

The Answer of Pop,Inc.acquires 100% of the outstanding shares of Snap Corp.for $3,923,450 and accounts for the transaction using the purchase method.The purchase price Pop paid for Snap exceeded Snap's book value for four reasons:
  Information about Pop and Snap's balance sheet at the acquisition date and the current market value of Snap's assets appears below:
  Required: Complete the table for Snap's current market values and the consolidated amounts at the date of acquisition.

Pop,IncAcquires 100% of the Outstanding Shares of Snap Corp