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Unformatted text preview: $270,000 Buyer Co. is purchasing the Assets of Seller Co. as of January 1, 2010. As part of the purchase Buyer Co. will assume the liabilities of Seller Co. and pay-off these liabilities in the future. Cash paid now by Buyer Co . for Seller Co. On January 1, 2010 the Asset and Liability account balances on Seller Co's books were as follows: Fair Value is equal to Seller Co's Book Value for all Assets and Liabilities except for Property and Equipment. The appraised fair value of Seller Co's Property and Equipment as of January 1, 2010 is $2,100,000 Seller Co's Assets at Fair Value Entry on Buyer Co's Books Cash Paid now for Seller Co + Liabilities Assumed ( paid in the futue)...
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This note was uploaded on 02/09/2012 for the course ACC 221 taught by Professor Wiegand during the Fall '08 term at Miami University.
- Fall '08