softdata inc acquires all the net assets of datalink corporation recording the combi 4374272

Softdata, Inc. acquires all the net assets of Datalink Corporation, recording the combination as a statutory merger. The balance sheets of Softdata and Datalink immediately prior to the acquisition, along with fair value information for Datalink’s reported assets and liabilities, are as follows: Datalink also has the following previously unreported intangible assets that meet U.S. GAAP requirements for asset recognition: (in millions) Fair Value Brand names …………………. $10 Software ………………………. 50 Softdata issues 500,000 shares of stock with a fair value of $70 million, and pays cash of $12 million to the former owners of Datalink. Stock registration fees are $1 million and legal and consulting fees are $2 million, all paid in cash. . Required Record the acquisition entry and prepare Softdata’s balance sheet immediately after it acquires Datalink View Solution:
Softdata Inc acquires all the net assets of Datalink Corporation

"Looking for a Similar yet Original Assignment? Order now and Get a Discount!

Get better grades effortlessly,
It’s cheaper than you might think

Effortlessly get the essays and grades you need. You can now get any essay, on any subject and at ANY deadline with just 10 minutes of your time (or less). Your professor will love you for it!