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Aderson co which has assets of 1000 and liabilities of

Question: Anderson Co., which has assets of $ 1,000 and liabilities of $ 400, acquires Genie Co. Anderson determines the fair value of the assets of Genie is $ 200 and the fair value of the liabilities is $100. Anderson pays $150 for Genie. How would anderson account for the transaction?

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Finance Basics: Aderson co which has assets of 1000 and liabilities of

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