Allerton Company acquires all of Deluxe Company’s assets and liabilities for cash on January 1, 2021, and subsequently formally dissolves Deluxe. At the acquisition date, the following book and fair values were available for the Deluxe Company accounts:       Book Values   Fair Values Current assets $ 55,250   $ 55,250   Building   105,500     61,900   Land   18,750     35,350   Trademark   0     37,400   Goodwill   20,000     ?   Liabilities   (64,500 )   (64,500 ) Common stock   (100,000 )       Retained earnings   (35,000 )           1&2. Prepare Allerton’s entry to record its acquisition of Deluxe in its accounting records assuming the following cash exchange amounts: $170,000 and $108,000. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Accounting On January 1, 2022, Pronto Company acquired all of Speedy Inc.'s voting stock for $28,800,000. Speedy's net assets were reported at amounts approximating book value, but Pronto determined that Speedy had the following previously unreported intangible assets: Developed technology, fair value $2,400,000, 5-year life • Favorable leases, fair value $1,200,000, 4-year life ● Speedy's shareholders' equity on January 1, 2022, was $12,000,000. It is now December 31, 2023 (two years later). Speedy reported net income of $960,000 in 2022. There are no impairments of identifiable intangibles or goodwill in 2022 or 2023. Pronto uses the complete equity method to report its investment in Speedy on its own books. Speedy's December 31, 2023, trial balance appears below. Dr (Cr) $24,000,000 Current assets Property and equipment, net 60,000,000 Liabilities (69,600,000) Capital stock (2,400,000) Retained earnings, January 1 (10,560,000) Sales revenue (84,000,000) Cost of goods sold 72,000,000…

On September 1, 2017, Winans Corporation acquired Aumont Enterprises for a cash payment of $700,000, At the time of purchase, Aumont's Balance sheet showed assets of $620,000 Liabilities of $200.000 and owners equity of $420,000, The fair value of Aumonts assets is estimated to be $800 000. Compute the amount of good will acquired by Winans. O S80 000 O $100.000 O $180 000 O All of the above

On January 1, 2021, Casey Corporation exchanged $3,300,000 cash for 100 percent of the outstanding voting stock of Kennedy Corporation. Casey plans to maintain Kennedy as a wholly owned subsidiary with separate legal status and accounting information systems.   At the acquisition date, Casey prepared the following fair-value allocation schedule:                   Fair value of Kennedy (consideration transferred)         $ 3,300,000   Carrying amount acquired           2,600,000   Excess fair value         $ 700,000   to buildings (undervalued) $ 382,000           to licensing agreements (overvalued)   (108,000 )     274,000   to goodwill (indefinite life)         $ 426,000       Immediately after closing the transaction, Casey and Kennedy prepared the following postacquisition balance sheets from their separate financial records (credit balances in parentheses).   Accounts Casey   Kennedy Cash $ 457,000     $ 172,500   Accounts receivable   1,655,000…