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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.
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The following information for Cooper Enterprises is given below: December 31, 2013 Assets and obligations Plan assets (at fair value) $200,000 Accumulated benefit obligation 370,00
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Question : The subsequent data pertain to a shop. The owner has made following sales forecasts for the first 5 months of the coming year.
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