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What is bargain purchase?
Financial assets acquired for less than FMV. In a bargain purchase BC, a corporate entity is acquired by another for an amount that is less than the fair market value of its net assets.
Describe the accounting procedures necessary to record and account for a bargain purchase.
Current accounting rules for business combinations require the acquirer to record the difference between fair value of the acquired net assets and the purchase price as a gain in its net profit and loss account, thereby providing an immediate boost to the acquirer's equity.
Star Corporation issued both common and preferred stock during 19X6. The stockholders' equity sections of the company's balance sheets at the end of 19X6 and 19X5 follow.
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what are five modern techniques of accounting
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