Cassis SA acquires 100% of Menthe SA, paying 2,400,000 in cash. At the acquisition date, Menthe's identifiable assets have a fair value of 3,800,000 and its liabilities assumed 900,000. Case assumption: the check of the identification of the items and the review of their measurement have been carried out, and the excess remains. The entry is made at business combination level. Record the acquisition entry.
- Fair value of identifiable assets
- 3,800,000
- Fair value of liabilities assumed
- 900,000
- Cash paid
- 2,400,000