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Business Combination Versus Asset Acquisition Haley Corporation pays $3.900,000 in cash to acquire assets from jaxon Inc. as follows: Fair Value $1,800.000 1.260.000 540,000 Machinery and equipment Developed technology (limited-life) Customer lists (limited-ife) In addition, Haley pays $100,000 in cash for legal and advisory costs connected with the acquisition. Required Note: Enter all zeros with your numerical answers, do not abbreviate your answers in thousands or in millions. Prepare the journal entry to record the acquisition, assuming it qualifies as a business combination. Credit Machinery and equipment Developed technology Customer lists Merger expenses Cash >> To record the bus de combat.co Debit 1800000 1260000 540000 3600000 13,900,000 b. Prepare the journal entry to record the acquisition assuming it is an asset acquisition. Debit Credit

Business Combination Versus Asset Acquisition Haley Corporation pays $3.900,000 in cash to acquire assets from jaxon Inc. as follows: Fair Value $1,800.000 1.260.000 540,000 Machinery and equipment Developed technology (limited-life) Customer lists (limited-ife) In addition, Haley pays $100,000 in cash for legal and advisory costs connected with the acquisition. Required Note: Enter all zeros with your numerical answers, do not abbreviate your answers in thousands or in millions. Prepare the journal entry to record the acquisition, assuming it qualifies as a business combination. Credit Machinery and equipment Developed technology Customer lists Merger expenses Cash >> To record the bus de combat.co Debit 1800000 1260000 540000 3600000 13,900,000 b. Prepare the journal entry to record the acquisition assuming it is an asset acquisition. Debit Credit

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Business Combination Versus Asset Acquisition Haley Corporation pays $3.900.000 in cash to acquire assets from jaxon Inc. as follows: Fair Value $1,800.000 1.260.000 540.000 Machinery and equipment Developed technology (limited-life) Customer lists (limited-life) In addition, Haley pays $100,000 in cash for legal and advisory costs connected with the acquisition. Required Note: Enter all zeros with your numerical answers, do not abbreviate your answers in thousands or in millions. Prepare the journal entry to record the acquisition, assuming it qualifies as a business combination. Credit Machinery and equipment Developed technology Customer lists Merger expenses Cash V >> To record the bus de combat co Debit 2800000 1260000 540000 3600000 13,900,000 b. Prepare the journal entry to record the acquisition assuming it is an asset acquisition. Debit Credit
Transcribed Image Text:Business Combination Versus Asset Acquisition Haley Corporation pays $3.900.000 in cash to acquire assets from jaxon Inc. as follows: Fair Value $1,800.000 1.260.000 540.000 Machinery and equipment Developed technology (limited-life) Customer lists (limited-life) In addition, Haley pays $100,000 in cash for legal and advisory costs connected with the acquisition. Required Note: Enter all zeros with your numerical answers, do not abbreviate your answers in thousands or in millions. Prepare the journal entry to record the acquisition, assuming it qualifies as a business combination. Credit Machinery and equipment Developed technology Customer lists Merger expenses Cash V >> To record the bus de combat co Debit 2800000 1260000 540000 3600000 13,900,000 b. Prepare the journal entry to record the acquisition assuming it is an asset acquisition. Debit Credit
b. Prepare the journal entry to record the acquisition, assuming it is an asset acquisition. To record the asset acquisition > > > > Debit Credit
Transcribed Image Text:b. Prepare the journal entry to record the acquisition, assuming it is an asset acquisition. To record the asset acquisition > > > > Debit Credit
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