Acquisition method: Consideration Transferred is less than
Net Asset Fair Values
BigNet Company’s Financial Records-December 31
Current Assets
300,000
Computers & Equip
600,000
Capitalised Software
1,200,000
Customer Contracts
700,000
Net Payable
250,000
Comm. Stock**
200,000
Addi. Piad in Capital
1,800,000
Gains on Bargain
550,000
Purchase
** (20,000 shares issued by BigNet at $10 par value)