On February 1,2X09,Bodner,Inc

question 64

Essay

On February 1,2X09,Bodner,Inc.acquired a 100% interest in Bolenski Company by paying $34 million for 100% of the outstanding stock of Bolenski Company.The book value of the net assets amounted to $25 million,but an independent appraiser valued the printing press at $1.5 million over its book value.The book value and fair value of the remaining assets and liabilities were equal.
Required:
1.On February 1,2X09,prepare the eliminating entry by Bodner,Inc.after the acquisition.
2.What will occur if the goodwill decreases in value after the acquisition?

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A one or two-letter notation derived from the Latin name of an element, used to represent an element in chemical equations.

Tin

A chemical element with the symbol Sn and atomic number 50, known for its malleability, ductility, and resistance to corrosion.

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