Reference no: EM133033053
Question - On February 1, DFS Corp. agreed to purchase 100% of the voting shares of LKJ Corp. for the following consideration:
Cash of $400,000
Equipment with a net book value of $200,000 and estimated fair value of $270,000
50,000 voting shares of DFS, currently trading for $5 per share
DFS incurred the following costs associated with the acquisition:
legal fees of $25,000
appraisal costs (equipment appraisal) of $2,000
What value should be used for the consideration transferred to acquire LKJ?
a) $920,000 b) $922,000 c) $945,000 d) $947,000
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