Business, 25.02.2021 18:20 fatherbamboo

In addition, the investor provided to the seller contingent consideration with a fair value of $200 and the investor paid an additional $600 of transaction costs to an unaffiliated third party. The contingent consideration has a potential settlement value of $450 in two years, and is not a derivative financial instrument. The book values are from the investee's financial records immediately before the exchange. The fair values are measured in accordance with FASB ASC 820: Fair Value Measurement. Parts a. and b. are independent of each other.
a. Provide the journal entry recorded by the investor company assuming that the nel assets transferred from the investee do not qualify as a "business," as that term is defined in FASB ASC Master Glossary.
b. Provide the journal entry recorded by the investor company assuming that the net assets transferred from the investee qualify as a "business," as that term is defined in FASB ASC Master Glossary.

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In addition, the investor provided to the seller contingent consideration with a fair value of $200...

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