Carla Vista is having liquidity issues and must sell its business. The company's total assets have a fair value of $1150000 and its liabilities have a fair value of $164000. If Sunland, Inc. purchases the company for $360000, how much if any, will Sunland record as a gain on acquisition? $3600000 $986000 $626000 $ -0-

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Carla Vista is having liquidity issues and must sell its business. The company's total assets have a fair
value of $1150000 and its liabilities have a fair value of $164000. If Sunland, Inc. purchases the company
for $360000, how much if any, will Sunland record as a gain on acquisition? $3600000 $986000 $626000 $
-0-
Transcribed Image Text:Carla Vista is having liquidity issues and must sell its business. The company's total assets have a fair value of $1150000 and its liabilities have a fair value of $164000. If Sunland, Inc. purchases the company for $360000, how much if any, will Sunland record as a gain on acquisition? $3600000 $986000 $626000 $ -0-
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