Simmons Corporation paid $170,000 to acquire all of Bush Company's net assets. Bush reported assets...
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Simmons Corporation paid $170,000 to acquire all of Bush Company's net assets. Bush reported assets with a book value of $189,000 and a fair value of $206,000 and liabilities with a book value and fair value off $48,000 on the date of the combination. Simmons also paid $8,000 to a search firm for finder's fees related to the acquisition. What amount will be recorded as investment by Simmons Corporation? Select one: a. 178,o00 b. 170,000 O c. 162,o00 d. 158,000
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