Plaine SA acquires 100% of Sillon SA, paying 3,600,000 in cash. At the acquisition date, Sillon's identifiable assets have a fair value of 4,200,000 and its liabilities assumed 1,150,000. Case convention: the entry is made at business combination level; there is no non-controlling interest or previously held interest. Record the acquisition entry.
- Fair value of identifiable assets
- 4,200,000
- Fair value of liabilities assumed
- 1,150,000
- Cash paid
- 3,600,000