1. 2. 3. The following items have been identified for an acquiree company. Which one(s) are separately capitalized by the acquiring company, per FASB ASC 805? a. In-process research and development,

brands names, developed technology b. Skilled workforce, potential contracts, future costing savings, favorable press reports c. Potential contracts, in-process research and development, favorable press reports d. Developed technology, brand names, favorable location Blair Company acquires all of the assets and liabilities of Tomlinson Corporation, in a transaction reported as a merger. How are the assets and liabilities of Blair and Tomlinson reported? a. Tomlinson's assets and liabilities remain at book value, and Blair's assets and liabilities are reported at fair value at the date of acquisition b. The assets and liabilities of both Blair and Tomlinson are reported at fair value at the date of acquisition c. Blair's assets and liabilities remain at book value, and Tomlinson's assets and liabilities are reported at fair value at the date of acquisition d. The assets and liabilities of both Blair and Tomlinson are reported at book value at the date of acquisition Company Y is purchased by Company X, at an acquisition cost that resulted in a $100,000 of goodwill. One of the assets acquired is a building, originally valued at $37,000 at the date of acquisition. Six months after the acquisition, it is discovered that the building was really only worth $25,000 at the date of acquisition. What entry is made to reflect this new information? a. A debit of $12,000 to Loss on Impairment b. A debit of $12,000 to Goodwill c. A credit of $12,000 to Gain from Bargain Purchase d. A debit of $100,000 to Goodwill