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Acquisition (Tables)

9 Months Ended

Sep. 30, 2024

Acquisition [Abstract]

Schedule of Estimated Fair Values of Net Assets Acquired and Liabilities Assumed

The following table summarizes the allocation of estimated fair values of net assets acquired and liabilities assumed:

Accounts receivable		$	1,526,360
Other current assets			171,038
Property, plant and equipment, net			1,458
Intangible assets			127,846
Right of use assets			8,875
Lease liability-current			(8,875	)
Accounts payable			(4,123,903	)
Accrued expenses and other payables			(552,484	)
Net identifiable assets acquired		$	(2,849,685	)
Add: goodwill			172,213
Total purchase price for acquisition net of $4,679,434 of cash		$	(2,677,472	)

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- References

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- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-1

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