Chat with us, powered by LiveChat On December 31, 2008, Large Company acquired Small - Writemia

On December 31, 2008, Large Company acquired Small

On December 31, 2008, Large Company acquired Small Company for $100,000. This amount exceeded the recorded value of Small Company’s net assets by $20,000 on the acquisition date. The entire excess was attributable to a Small Company building that had a remaining useful life of 10 years as of the acquisition date. Information reported for the two companies for 2007 and 2008 was as follows:Prepare the necessary pro forma information that would be included in the notes to Large Company’s 2008 financial statements. For simplicity, ignore incometaxes. View Solution: On December 31 2008 Large Company acquired Small Company for

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