|
|
| ||
Total purchase price: |
|
| ||
Cash |
|
$ |
64,000 |
|
Allocated as follows: | ||||
Cash & cash equivalents | $ | 25,850 | ||
Accounts receivable | 2,129 | |||
Other receivable | 400 | |||
Prepayment | 1,472 | |||
Accounts payable and accrued expenses | (25,206 | ) | ||
Goodwill | 59,355 | |||
Less cash acquired | $ | 64,000 | ||
The excess fair value of net assets acquired over the purchase price was recorded as goodwill impairment. | (25,850 | ) | ||
Cash, net of cash acquired | $ | 4,645 |