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Grant Company acquired all of Bedford Corporation's assets and liabilities on January 1, 20X2, in a business combination. At that date, Bedford reported assets with a book value of $642,000 and liabilities of $367,000. Grant noted that Bedford had $45,000 of capitalized research and development costs on its books at the acquisition date that did not appear to be of value. Grant also determined that patents developed by Bedford had a fair value of $136,000 but had not been recorded by Bedford. Except for buildings and equipment, Grant determined the fair value of all other assets and liabilities reported by Bedford approximated the recorded amounts. In recording the transfer of assets and liabilities to its books, Grant recorded goodwill of $103,000. Grant paid $529,000 to acquire Bedford's assets and liabilities. If the book value of Bedford's buildings and equipment was $355,000 at the date of acquisition, what was their fair value?
The taxpayer uses the diminishing value method of depreciation and uses the effective life determinations as specified by the Commissioner. All assets were purchased after 10 May 2006. The business has not elected to utilise the small business e..
1. Describe at least three purposes of the budgetary process. 2. For a company's budget to have a positive effect on their employees, describe three guidelines for the budgeting process.
free economies use open markets to allocate resources.identify the three participants in a free business market. write
Write an 8-10 page research paper, not including cover and reference pages, use at least "5" sources of research minimum for this paper. give personal opinions, examples that justify your conclusions, and use graphics if you want (cut and paste wi..
A researcher wants to investigate the proportion of married men who are happy with their marriage to do this, he takes a sample of 100 men and finds that 72 reported being happy with their marriage. Should a confidence interval be constructed to d..
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Indicate the effect of the error on 2013 Net Income
The S corporation uses the small business simplified overall method for reporting these activities (see discussion for Line 12d of Schedules K and K-1 in the Form 1120S instructions). Prepare a 2012 S corporation tax return for Bottle-Up, showing ..
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