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Nikitich [7]
3 years ago
5

Company ABC acquires company XYZ on 12/31/2016 in a share-for-share transaction worth $10 million. On 12/31/2016, XYZ financial

statements reported total assets $12 million, liabilities $8 million, stockholders equity $4 million, and net income for fiscal 2016 $2 million. At the time of acquisition, the fair value of XYZ's assets equals its book values, except for property, plant and equipment which has a fair value $2 million higher than its book value. Goodwill is expected to be amortized over 10 years, and the average life of depreciable assets is 10 years. If ABC uses purchase accounting to record the acquisition, the amount of goodwill that will appear on its balance sheet as of 12/31/2016 with respect to the acquisition of XYZ will be _____.
Business
1 answer:
seropon [69]3 years ago
5 0
Simply 2mill * number one ☝ the best in north east bay north north west of the east east north north bay east bay
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