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On July 1, 20X0, DEF paid 500 in cash to UVWs shareholders in exchange for...

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Accounting

On July 1, 20X0, DEF paid 500 in cash to UVWs shareholders in exchange for 80 percent of UVWs shares. Prior to July 1, 20X0, ABC did not own any of UVWs shares. Immediately before the acquisition, UVWs: (1) identifiable assets had a carrying value of 100 and a fair value of 300 and (2) identifiable liabilities had a carrying value of 125 and a fair value of 125. What amount of UVWs identifiable assets will DEF recognize on its post-acquisition balance sheet (i.e., the balance sheet that is created at the end of the day on which the acquisition occurred)?

80

100

140

175

240

300

Answer & Explanation Solved by verified expert
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