Brightcove, Inc. acquires Ciber, Inc. for $62.5 million in cash and accounts for the acquisition as a merger. Ciber's balance sheet at the date of acquisition is as follows (in thousands): Book Value Fair Value Current assets $500 $375 Plant and equipment 15,000 5,000 Licenses and trademarks 6,250 8,750 Total assets $21,750 Current liabilities $1,000 1,000 Long-term liabilities 12,500 13,750 Capital stock 10,000 Retained earnings (1,750) Total liabilities and equity $21,750 Brightcove hires a consultant to identify and value any previously unreported intangible assets attributable to Ciber at the date of acquisition. The consultant identifies the following intangibles: (in thousands) Fair Value Customer contracts $1,250 Assembled workforce 25,000 Brand names 6,250 Leases at rents below current market 500 Developed technology 1,875 In-process research and development 375 Future cost savings from elimination of duplicate assets 1,000 Additional expected revenues from bundling products 750Prepare the journal entry Brightcove makes to record the acquisition. General JournalDescription Debit CreditCurrent assetsPlant and equipmentLicenses and trademarksCustomer contractsBrand namesGoodwillCurrent liabilitiesLong term liabilities

Ryan terlecki organized a new internet company, capuniverse, inc. the company specializes in baseball-type caps with logos printed on them. ryan, who is never without a cap, believes that his target market is college and high school students. you have been hired to record the transactions occurring in the first two weeks of operations.

For each of the following situations, indicate whether you agree or disagree with the financial reporting practice employed and state the basic assumption, component, or accounting principle that is applied (if you agree) or violated (if you disagree).wagner corporation adjusted the valuation of all assets and liabilities to reflect changes in the purchasing power of the dollar.spooner oil company changed its method of accounting for oil and gas exploration costs from successful efforts to full cost. no mention of the change was included in the financial statements. the change had a material effect on spooner's financial statements.cypress manufacturing company purchased machinery having a five-year life. the cost of the machinery is being expensed over the life of the machinery.rudeen corporation purchased equipment for $180,000 at a liquidation sale of a competitor. because the equipment was worth $230,000, rudeen valued the equipment in its subsequent balance sheet at $230,000.davis bicycle company received a large order for the sale of 1,000 bicycles at $100 each. the customer paid davis the entire amount of $100,000 on march 15. however, davis did not record any revenue until april 17, the date the bicycles were delivered to the customer.gigantic corporation purchased two small calculators at a cost of $32.00. the cost of the calculators was expensed even though they had a three-year estimated useful life.esquire company provides financial statements to external users every three years.

Industrial engineers who specialize in ergonomics are concerned with designing workspace and devices operated by workers so as to achieve high productivity and comfort. a paper published in this research area reports on a study of preferred height for an experimental keyboard with large forearm-wrist support. a sample of 31 trained typists resulted in an average preferred height of 80.0 cm