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What the information related to sung ltd net assets is

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Reference no: EM132563148

Question 1: Phen Ltd. issued 500,000 common shares of $10 at par and paid $1,000,000 for the net assets of Sung Ltd. on August 17, 2014. The market value of Phen Ltd.'s stocks was $20 per share at the time. Sung Ltd. was dissolved immediately after the acquisition. The information related to Sung Ltd.'s net assets is as follows (in thousands)

Reference no: EM132563148

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