Picnic Inc purchased the following assets from Anthill Corp. Anthill Carrying Value Inventory $450,000 Equipment $625,000...

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Picnic Inc purchased the following assets from Anthill Corp. Anthill Carrying Value Inventory $450,000 Equipment $625,000 Pat

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Answer 1

Answer #1

Ans
1st Part
A	Probably not

B	Inventory	$ 4,35,000
	Equipment	$ 6,80,000
	Patent	$ 75,000


2nd Part
A	Probably Yes

B	Inventory	$ 4,35,000
	Equipment	$ 6,80,000
	Patent	$ 75,000

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Answer 2

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Picnic Inc purchased the following assets from Anthill Corp. Anthill Carrying Value Inventory $450,000 Equipment $625,000...

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