Acct P2-17,20 - Beg RE 950,000 950,000 Net Income 310,000...

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Andrew Townsend P2-17) a) Cash paid 300,000 Contingency 15,000 FV net assets -282,000 Goodwill 33000 Receivables 80,000 Inventory 70,000 Buildings 115,000 Equipment 25,000 R&D 30,000 Customer list 22,000 Goodwill 33,000 Current Liab 10,000 LT Liab 50,000 Contingency 15,000 Cash 300,000 b) Cash paid 310,000 FV net assets -282,000 Goodwill 28,000 Receivables 80,000 Inventory 70,000 Buildings 115,000 Equipment 25,000 R&D 30,000 Customer list 22,000 Goodwill 28,000 Current Liab 10,000 LT Liab 50,000 Cash 310,000 P2-20) a) Investment 1,062,500 Acquisition Exp 15,000
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Additional PIC 9,000 Common stock 250,000 Additional PIC 750,000 Contingency 62,500 Cash 24,000 b) Pacifica Seguros Consolidation Balance Revenue 1,200,000 1,200,000 Expenses 890,000 890,000 Net Income 310,000 310,000
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Unformatted text preview: Beg. RE 950,000 950,000 Net Income 310,000 310,000 Dividends 90,000 90,000 End RE 1,170,000 1,170,000 Cash 86,000 85,000 171,000 Receivables 750,000 190,000 10,000 930,000 PPE 1,400,000 450,000 150,000 2,000,000 Trademarks 300,000 160,000 40,000 500,000 Investment 1,062,500 1,062,500 R&D 100,000 100,000 Goodwill 77,500 77,500 Total Assets 3,598,500 885,000 3,778,500 Liabilities 500,000 180,000 Contingency 62,500 Common Stock 650,000 200,000 200000 Additional PIC 1,216,000 70,000 70000 RE 1,170,000 435,000 435000 Total Liab & SE 3,598,500 885,000 e Sheet 680000 62500 650000 1216000 1170000 3778500...
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