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Total purchase price: |
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|
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 | ||