b. Prepare the journal entry to record the acquisition if it is an asset acquisition. Assume the cash and trading investments are nonqualifying assets. Debit Credit Investments Cash To record the asset acquisition 00OOO 8 0 OOOO 0x 0x 0x 443
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- Business Combination Versus Asset Acquisition As part of a project, Webflow Inc. acquires these assets from Digital Sea Company (in millions) Fair Value Cash Trading debt investments Equipment In-process R&D 240 60 6 The in-process R&D has no alternative future use. Webflow pays $335 million in cash for the acquired assets, and also pays $5 million in cash for legal and advisory costs. Note: Provide all answers in millions and round answers to the nearest whole number. For example, 16,355,000 would be 16. a. Prepare the journal entry to record the acquisition if it qualifies as a business combination. Debit Credit : 0 : : : : Cash To record the business combination 0 0 O 0 0 0 O O 0 0 0 0 340Business Combination Versus Asset Acquisition As part of a project, Webflow Inc. acquires these assets from Digital Sea Company (in millions): Fair Value $4 Cash Trading debt investments Equipment in process R&D 6 240 60 The in-process R&D has no alternative future use. Webflow pays $335 million in cash for the acquired assets, and also pays $5 million in cash for legal and advisory costs Note: Provide all answers in millions and round answers to the nearest whole number. For example. 16.355.000 would be 16. a Prepare the journal entry to record the acquisition if it qualifies as a business combination. Debit Credit Cash to record the business combination 0 0 0 0 0 D O 0 10 0 0 0 340 it is an ecat acnuutine Ama the cash and die thindacateOnly Part B please and thank you! E2.20 Business Combination Versus Asset Acquisition As part of a project, Webflow Inc. acquires these assets from Digital Sea Company (in millions): Cash.. Trading debt investments Equipment In-process R&D Fair Value $4 6 240 60 The in-process R&D has no alternative future use. Webflow pays $335 million in cash for the acquired assets, and also pays $5 million in cash for legal and advisory costs. Required a. Prepare the journal entry to record the acquisition if it qualifies as a business combination. b. Prepare the journal entry to record the acquisition if it is an asset acquisition. Assume the cash and trading investments are nonqualifying assets.
- Kindly provide solution and answer for the following 4 questions below:Only Part B please and thank you! E2.20 Business Combination Versus Asset Acquisition As part of a project, Webflow Inc. acquires these assets from Digital Sea Company (in millions): Cash.... Trading debt investments Equipment In-process R&D Fair Value $ 4 6 240 60 The in-process R&D has no alternative future use. Webflow pays $335 million in cash for the acquired assets, and also pays $5 million in cash for legal and advisory costs. Required a. b. Prepare the journal entry to record the acquisition if it qualifies as a business combination. Prepare the journal entry to record the acquisition if it is an asset acquisition. Assume the cash and trading investments are nonqualifying assets.PLEASE EXPLAIN THE ANSWER STEP BY STEP. THANK U.
- MAP Ltd acquired a Machine from FAT Ltd for the following consideration:o Cash $65 000,o Land in the books of MAP Ltd the land is recorded at its cost of $750 000.It has a fair value of $700 000.MAP Ltd also agrees to assume the liability of the FAT Ltd bank loan of $95 000 as part ofthe Machine acquistion Calculate the acquisition cost of the Machine Provide the journal entries that would appear in MAP Ltd.’s books to accountfor the acquisition of the Machine.Subject - account Please help me. Thankyou.Blue sky company’s balance sheet dated 12/31/2020 reports 6 million And assets in 2.4 million in liabilities book values for all the firms assets, approximate their fair values except for land which has the book value that is 360,000 lower than it’s fair value on December 31 Horatio corporation pay 6.12 million to acquire blue sky as a result of the purchase, Horacio should record a Goodwill amount of. please give me answer fast