On January 1, 2021, Casey Corporation exchanged 53 for 100 percent of the outstanding voting stock...
On January 1, 2021, Casey Corporation exchanged $3,213,000 cash for 100 percent of the outstanding voting stock of Kennedy Corporation. Casey plans to maintain Kennedy as a wholly owned subsidiary with separate legal status and accounting information systems. At the acquisition date, Casey prepared the following fair-value allocation schedule: Fair value of Kennedy (consideration transferred) Carrying amount acquired Excess fair value to buildings (undervalued) to licensing agreements (overvalued) to goodwill (indefinite life) $ $ 3,213,000 2,600,000 $ 613,000 344,000 (149,000)...
On January 1, 2021, Casey Corporation exchanged $3,251,000 cash for 100 percent of the outstanding voting stock of Kennedy Corporation. Casey plans to maintain Kennedy as a wholly owned subsidiary with separate legal status and accounting information systems. At the acquisition date, Casey prepared the following fair-value allocation schedule: Fair value of Kennedy (consideration transferred) $ 3,251,000 Carrying amount acquired 2,600,000 Excess fair value $ 651,000 to buildings (undervalued) $ 322,000 to licensing agreements (overvalued) (141,000 ) 181,000 to goodwill...
On January 1, 2021, Casey Corporation exchanged $3,300,000 cash for 100 percent of the outstanding voting stock of Kennedy Corporation. Casey plans to maintain Kennedy as a wholly owned subsidiary with separate legal status and accounting information systems. At the acquisition date, Casey prepared the following fair-value allocation schedule: $ 3,300,000 2,600,000 $ 700,000 Fair value of Kennedy (consideration transferred) Carrying amount acquired Excess fair value to buildings (undervalued) to licensing agreements (overvalued) to goodwill (indefinite life) $ 382,000 108,000)...
On January 1, 2021, Casey Corporation exchanged $3,194,000 cash for 100 percent of the outstanding voting stock of Kennedy Corporation. Casey plans to maintain Kennedy as a wholly owned subsidiary with separate legal status and accounting information systems. At the acquisition date, Casey prepared the following fair-value allocation schedule: Fair value of Kennedy (consideration transferred) Carrying amount acquired Excess fair value to buildings (undervalued) to licensing agreements (overvalued) to goodwill (indefinite life) $ $ 3, 194,000 2,600,000 594,000 368,000 (182,000)...
On January 1, 2021, Casey Corporation exchanged $3,271,000 cash for 100 percent of the outstanding voting stock of Kennedy Corporation. Casey plans to maintain Kennedy as a wholly owned subsidiary with separate legal status and accounting information systems. At the acquisition date, Casey prepared the following fair-value allocation schedule: Fair value of Kennedy (consideration transferred) $ 3,271,000 Carrying amount acquired 2,600,000 Excess fair value $ 671,000 to buildings (undervalued) $ 378,000 to licensing agreements (overvalued) (188,000 ) 190,000 to goodwill...
On January 1, 2018 Casey Corporation exchanged $3,205,000 cash for 100 percent of the outstanding voting stock of Kennedy Corporation. Casey plans to maintain Kennedy as a wholly owned subsidiary with separate legal status and accounting information systems. At the acquisition date. Casey prepared the following fair-value allocation schedule: Fair value of Kennedy (consideration transferred) Carrying amount acquired Excess fair value to buildings (undervalued) to licensing agreements (overvalued) to goodwill indefinite life) $ 3,205,000 2,600,000 $ 605,000 $ 323,000 (191,000)...
On January 1, 2018 Casey Corporation exchanged $3,251,000 cash for 100 percent of the outstanding voting stock of Kennedy Corporation. Casey plans to maintain Kennedy as a wholly owned subsidiary with separate legal status and accounting information systems. At the acquisition date, Casey prepared the following fair-value allocation schedule Fair value of Kennedy (consideration transferred) Carrying amount acquired Excess fair value 3,251,000 2,600,000 $ 651,000 to buildings (undervalued) to licensing agreements (overvalued) to goodwill (indefinite life) 322,000 141,000 181,000 $...
Saved Problem 2-28 (Algo) (LO 2-4, 2-7) On January 1, 2021, Casey Corporation exchanged $3,282,000 cash for 100 percent of the outstanding voting stock of Kennedy Corporation Casey plans to maintain Kennedy as a wholly owned subsidiary with separate legal status and accounting information Systems At the acquisition date, Casey prepared the following fair value allocation schedule: Fair value of Kennedy (consideration transferred) 3.282.000 Carrying out acquired 2. 600,000 Excela fair value 682.000 to buildings undervalued) 353,000 to licensing agreements...
On January 1, 2018 Casey Corporation exchanged $3,218,000 cash for 100 percent of the outstanding voting stock of Kennedy Corporation. Casey plans to maintain Kennedy as a wholly owned subsidiary with separate legal status and accounting information systems. At the acquisition date, Casey prepared the following fair-value allocation schedule: Fair value of Kennedy (consideration transferred) $3,218,000 Carrying amount acquired $2,600,000 Excess fair value $618,000 To buildings (undervalued) $360,000 To licensing agreements (overvalued) (162,000) 198,000 To goodwill (indefinite...
On January 1, 2018 Casey Corporation exchanged $3,244,000 cash for 100 percent of the outstanding voting stock of Kennedy Corporation. Casey plans to maintain Kennedy as a wholly owned subsidiary with separate legal status and accounting information systems. At the acquisition date, Casey prepared the following fair-value allocation schedule: Fair value of Kennedy (consideration transferred) $ 3,244,000 Carrying amount acquired 2,600,000 Excess fair value $ 644,000 to buildings (undervalued) $ 366,000 to licensing agreements (overvalued) (196,000 ) 170,000 to goodwill...