Solved: Bale paid 100000 in direct combination costs 550000 in, Accounting Basics

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Bale paid 100000 in direct combination costs 550000 in

Question - Bale Co. acquired Silo Inc. on December 31, 2013, in an acquisition business combination transaction. Bale's net income for the year was $1,400,000, while Silo had net income of 5400,000 earned evenly during the year. Bale paid $100,000 in direct combination costs, 550,000 in indirect costs, and $30,000 in stock issue costs to effect the combination.

Required: What is consolidated net income for 2013?

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Accounting Basics: Bale paid 100000 in direct combination costs 550000 in

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Accounting Basics: Bale paid 100000 in direct combination costs 550000 in

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