Johnson Corporation acquired all of the outstanding common stock of Smith Corporation for $12,560,000 in cash....
Johnson Corporation acquired all of the outstanding common stock of Smith Corporation for $12,560,000 in cash. The book value of Smith’s net assets (assets minus liabilities) was $9,100,000. The fair values of all of Smith’s assets and liabilities were equal to their book values with the following exceptions:
Book Value Fair Value
Receivables $ 2,600,000 $ 2,270,000
Property, plant, and equipment 9,300,000 10,830,000
Intangible assets 330,000 1,460,000
1. Required: Calculate the amount paid for goodwill.____________________?
Homework Answers
| Book value of net assets | $9,100,000 |
| Less: Book value of assets ($2,600,000+9,300,000+330,000) | (12,230,000) |
| Add: Fair value of assets ($2,270,000+10,830,000+1,460,000) | 14,560,000 |
| Fair value of net assets | 11,430,000 |
| Purchase consideration paid | 12,560,000 |
| Amount of goodwill paid ($12,560,000-11,430,000) | $1,130,000 |
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Johnson Corporation acquired all of the outstanding common stock
of Smith Corporation for $12,560,000 in cash....
please show work son Corporation acquired all of the outstanding common stock of Smith Corporation or...
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son Corporation acquired all of the outstanding common stock of Smith Corporation or 12,920,000 in cash. The book value of Smith's net assets (assets minus liabilities) was $9,400,000. The fair values of all of Smith's assets and liabilities were equal to their book values with the following exceptions: Book Value Fair Value $2,900,000 S 2,540,000 Property, plant, and equipment 9,600,000 11,160,000 360,000 1,520,000 Receivables Intangible assets Required: 1. Calculate the amount paid for goodwill. 2. Prepare the...
NEED IN 30 MIN PLEASE! Please show work on how you got the answer please. THank...
NEED IN 30 MIN PLEASE! Please show work on how you got the
answer please. THank you!
Saved You received no credit for this question in the previous attempt. Check my wor 6. Johnson Corporation acquired all of the outstanding common stock of Smith Corporation for $12,800,000 in cash. The book value of Smith's net assets (assets minus liabilities) was $9,300,000. The fair values of all of Smith's assets and liabilities were equal to their book values with the following...
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please show work
son Corporation acquired all of the outstanding common stock of Smith Corporation or 12,920,000 in cash. The book value of Smith's net assets (assets minus liabilities) was $9,400,000. The fair values of all of Smith's assets and liabilities were equal to their book values with the following exceptions: Book Value Fair Value $2,900,000 S 2,540,000 Property, plant, and equipment 9,600,000 11,160,000 360,000 1,520,000 Receivables Intangible assets Required: 1. Calculate the amount paid for goodwill. 2. Prepare the...
NEED IN 30 MIN PLEASE! Please show work on how you got the
answer please. THank you!
Saved You received no credit for this question in the previous attempt. Check my wor 6. Johnson Corporation acquired all of the outstanding common stock of Smith Corporation for $12,800,000 in cash. The book value of Smith's net assets (assets minus liabilities) was $9,300,000. The fair values of all of Smith's assets and liabilities were equal to their book values with the following...
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Mainline Produce Corporation acquired all the outstanding common stock of iceberg Lettuce Corporation for $39.000.000 in cash The book values and fair values of Iceberg's assets and liabilities were as follows: Current assets Property, plant, and equipment Other assets Current liabilities Long-term liabilities Book Value $14,88e, eee 28. zee.eee 4.8ee.eee 9.280.eas 14,889,808 Fair Value $17,980, 34,200,000 5,880.800 9.229.99 13,800,000 Required: Calculate the amount paid for goodwill. (Enter your answer in millions (.e. 5,000,000 should be entered as 5).) Amount paid...
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