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How would the fair value of the net assets be recorded

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Question - Panther Company is about to acquire a 100% interest in Snake Company. Snake has identifiable net assets with book and fair values of $300,000 and $500,000, respectively. Panther will issue common stock as payment with a fair value of $750,000. When and how would the fair value of the net assets and goodwill be recorded if the acquisition is?

b. A purchase of Snake's common stock and Snake remains a separate legal entity.

Reference no: EM132965702

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