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Unformatted text preview: b. Treated as negative goodwill to be amortized over the period bene²ted, not to exceed 40 years. c. Treated as goodwill and tested for impairment on an annual basis. d. Applied pro rata to reduce, but not below zero, the amounts initially assigned to speci²c noncurrent assets of the acquired ²rm. LO4 , LO5 11. What should Beasley record as total liabilities incurred or assumed in connection with the Donovan merger? a. $15,000 b. $75,000 c. $95,000 d. $150,000 LO5 , LO8 12. How much should Beasley record as total assets acquired in the Donovan merger? a. $400,000 b. $420,000 c. $410,000 d. $480,000...
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- Winter '14
- Balance Sheet, Generally Accepted Accounting Principles, Donovan, Beasley, Donovan merger