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Deferred tax liability. Your client, Lewison International, has informed you that it has reached an agreement with Herro Company to acquire all of Herro's assets. This transaction will be accomplished through the issue of Lewison's common stock.
After your examination of the ?nancial statements and the acquisition agreement, you have discovered the following important facts.
The Lewison common stock issued has a fair value of $800,000. The fair value of Herro's assets, net of all liabilities, is $700,000. All asset book values equal their fair values except for one machine valued at $200,000. This machine was originally purchased two years ago by Herro for $180,000. This machine has been depreciated using the straight-line method with an assumed useful life of 10 years and no salvage value. The acquisition is to be considered a tax- free exchange for tax purposes.
Assuming a 30% tax rate, what amounts will be recorded for the machine, deferred tax liability, and goodwill?
questionfrom the given information it is possible to evaluate boeings 2008 net journal entry for its pension and opeb
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You also pay an interest payment of $30 and a tax bill of $180. In addition, you borrow $75. What is your cash balance at the end of the quarter?
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