Business, 18.01.2021 14:00, Kaylenejohnson00

Pepper acquired a 25% stake in Salt on Jan 2, 2019 for $820,000. On Jan 1, 2019 Salt reported $2,000,000 in net assets on its balance sheet. Salt's net assets had historical book values that approximately equaled their fair values, except for a patent that had a fair value equal to $1,000,000 but a book value of $200,000. The patent has a 10-year remaining useful life at January 1, 2019. Required:
a. What is the identifiable portion of the 25% acquisition accounting premium (AAP) that is contained on Pepper's balance sheet related to its investment in Salt on Jan 2, 2019?
b. Pepper acquired a 25% stake in Salt on Jan 2, 2019 for $820,000. On Jan 1, 2019 Salt reported $2,000,000 in net assets on its balance sheet. Salt's net assets had historical book values that approximately equaled their fair values, except for a patent that had a fair value equal to $1,000,000 but a book value of $200,000. The patent has a 10-year remaining useful life at January 1, 2019. What is the unidentifiable portion of the 25% acquisition accounting premium (AAP) that is contained on Pepper's balance sheet related to its investment in Salt on Jan 2, 2019?

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Pepper acquired a 25% stake in Salt on Jan 2, 2019 for $820,000. On Jan 1, 2019 Salt reported $2,000...