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Business, 03.05.2021 14:40 pat930

Kelly Corporation acquires all of the assets and liabilities of Lawson Co. at an acquisition cost that is $50 million above the fair value of identifiable net assets acquired. Three months after the acquisition, it is determined that because of a downturn in the economy after the acquisition, acquired brand names with indefinite lives are worth $5,000,000 less than originally estimated. The entry to reflect this new information includes:

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Kelly Corporation acquires all of the assets and liabilities of Lawson Co. at an acquisition cost th...
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