Jaynes Inc. acquired all of Aaron Co.'s common stock on January 1, 2010, by issuing 11,000 shares of $1 par value common stock. Jaynes' shares had a $17 per share fair value. On that date, Aaron reported a net book value of $120,000. However, its equipment (with a five-year remaining life) was undervalued by $6,000 in the company's accounting records. Any excess of consideration transferred over fair value of assets and liabilities is assigned to an unrecorded patent to be amortized over ten years.
What was the total for consolidated patents as of December 31, 2011?
Definitions:
Modeling
A learning method where individuals ascertain how to act or perform by observing others, often used in cognitive psychology and behavioral analysis.
Surgery
A branch of medicine that involves the treatment of diseases, injuries, or deformations by manual or operative procedures.
Behavior Modification
A form of therapy that applies the principles of reinforcement to bring about desired behavioral changes.
Socially Undesirable
Behaviors or traits that are frowned upon by society or considered inappropriate or unacceptable.
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