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Business, 11.11.2019 22:31 jasmineunderwoo264

On january 1, 2017, quickport company acquired 90 percent of the outstanding voting stock of netspeed, inc., for $810,000 in cash and stock options. at the acquisition date, netspeed had common stock of $800,000 and retained earnings of $40,000. the acquisition-date fair value of the 10 percent noncontrolling interest was $90,000. quickport attributed the $60,000 excess of netspeed’s fair value over book value to a database with a five-year remaining life.

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On january 1, 2017, quickport company acquired 90 percent of the outstanding voting stock of netspee...
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