On September 1, 2021, Carla Vista Corporation acquired Sandhill Enterprises for a cash payment of $787,200....
On September 1, 2021, Carla Vista Corporation acquired Sandhill
Enterprises for a cash payment of $787,200. At the time of
purchases, Sandhill's balance sheet showed assets of $585,600,
liabilities of $230,400, and owner's equity of $403,200. The fair
value of Sandhill's assets is estimated to be $931,200.
Compute the amount of goodwill acquired by Carla Vista.
| Amount of goodwill | $
|
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On September 1, 2021, Carla Vista Corporation acquired Sandhill
Enterprises for a cash payment of $787,200....
On September 1, 2021, Sandhill Corporation acquired Wildhorse Enterprises for a cash payment of $803,600. At...
On September 1, 2021, Sandhill Corporation acquired Wildhorse Enterprises for a cash payment of $803,600. At the time of purchases, Wildhorse's balance sheet showed assets of $597,800, liabilities of $235,200, and owner's equity of $411,600. The fair value of Wildhorse's assets is estimated to be $950,600. Compute the amount of goodwill acquired by Sandhill. Amount of goodwill s
On September 1, 2020, Grouper Corporation acquired Skysong Enterprises for a cash payment of $710,000. At...
On September 1, 2020, Grouper Corporation acquired Skysong Enterprises for a cash payment of $710,000. At the time of purchase, Skysong’s balance sheet showed assets of $620,000, liabilities of $250,000, and owners’ equity of $370,000. The fair value of Skysong’s assets is estimated to be $760,000. Compute the amount of goodwill acquired by Grouper. Value assigned to goodwill $enter a dollar amount of goodwill acquired by Grouper
On September 1, 2017, Flint Corporation acquired Aumont Enterprises for a cash payment of $710,000. At...
On September 1, 2017, Flint Corporation acquired Aumont
Enterprises for a cash payment of $710,000. At the time of
purchase, Aumont’s balance sheet showed assets of $560,000,
liabilities of $240,000, and owners’ equity of $320,000. The fair
value of Aumont’s assets is estimated to be $790,000.
Compute the amount of goodwill acquired by Flint.
Value assigned to goodwill
$
Carla Vista's Sandhill Co. has a capital balance on January 1, 2021, of $26,900. Carla Vista...
Carla Vista's Sandhill Co. has a capital balance on January 1, 2021, of $26,900. Carla Vista has drawings of $14,000. Prepare a statement of owner's equity for the year assuming that net income is $16,700 for the year. (List items that increase owner's equity first CARLA VISTA'S SANDHILL CO. Statement of Owner's Equity
On September 1, 2020, Flounder Corporation acquired Tunneling Limited for a cash payment of $864,700. At...
On September 1, 2020, Flounder Corporation acquired Tunneling Limited for a cash payment of $864,700. At the time of purchase, Tunneling's statement of financial position showed assets of $905,000, liabilities of $462,400, and owners' equity of $442,600. The fair value of Tunneling's assets is estimated to be $1,165,000. Assume that Flounder Corporation is a public company and that the goodwill was allocated entirely to one cash- generating unit (CGU). Two years later, information about the CGU is as follows: carrying...
On August 1, 2017, Western Corporation acquired Orbit, Inc. for a cash payment of $2.20 million....
On August 1, 2017, Western Corporation acquired Orbit, Inc. for a cash payment of $2.20 million. At the time of purchase, Orbit’s balance sheet showed assets of $4,400,000, liabilities of $2,650,000, and owners’ equity of $1,750,000. The fair value of Orbit’s identifiable assets is estimated to be $4,300,000. Compute the amount of goodwill acquired by Western. Value assigned to goodwill
Carla Vista Co.’s balance sheet at December 31, 2021, is presented below. Carla Vista Co. Balance...
Carla Vista Co.’s balance sheet at December 31, 2021, is presented below. Carla Vista Co. Balance Sheet December 31, 2021 Cash $14,080 Accounts payable $8,620 Accounts receivable 21,100 Common stock 19,000 Allowance for doubtful accounts (850) Retained earnings 16,510 Inventory 9,800 $44,130 $44,130 During January 2022, the following transactions occurred. Carla Vista uses the perpetual inventory method. Jan. 1 Carla Vista accepted a 4-month, 8% note from Betheny Company in payment of Betheny’s $3,600 account. 3 Carla Vista wrote off...
Problem 13-1A (Part Level Submission) Here are comparative statement data for Sandhill Company and Carla Vista...
Problem 13-1A (Part Level Submission) Here are comparative statement data for Sandhill Company and Carla Vista Company, two competitors. All balance sheet data are as of December 31, 2017, and December 31, 2016. Sandhill Company Carla Vista Company 2017 2016 2017 2016 Net sales $1,889,000 $578,000 Cost of goods sold 1,074,000 284,000 Operating expenses 270,000 92,000 Interest expense 6,900 3,500 Income tax expense 65,800 29,000 Current assets 590,015 $565,462 150,838 $ 143,835 Plant assets (net) 953,508 905,000 252,908 227,720 Current...
Carla Vista Co. has two notes payable outstanding on December 31, 2021, as follows: (a) A...
Carla Vista Co. has two notes payable outstanding on December 31, 2021, as follows: (a) A five-year, 6.4%, $76,000 note payable issued on August 31, 2021. Carla Vista Co. is required to pay $15,200 plus interest on August 31 each year starting in 2022. (b) A four-year, 5.7%, $86,400 note payable issued on September 30, 2021. Carla Vista Co. is required to pay $1,800 plus interest at the end of each month starting on October 31, 2021. All payments are...
PART ONE 1. On May 28, 2021, Pesky Corporation acquired all of the outstanding common stock...
PART ONE 1. On May 28, 2021, Pesky Corporation acquired all of the outstanding common stock of Harman, Inc., for $480 million. The fair value of Harman's identifiable tangible and intangible assets totaled $554 million, and the fair value of liabilities assumed by Pesky was $200 million. Pesky performed a goodwill impairment test at the end of its fiscal year ended December 31, 2021. Management has provided the following information: Fair value of Harman, Inc. $ 460 million Fair value...
On September 1, 2021, Sandhill Corporation acquired Wildhorse Enterprises for a cash payment of $803,600. At the time of purchases, Wildhorse's balance sheet showed assets of $597,800, liabilities of $235,200, and owner's equity of $411,600. The fair value of Wildhorse's assets is estimated to be $950,600. Compute the amount of goodwill acquired by Sandhill. Amount of goodwill s
On September 1, 2017, Flint Corporation acquired Aumont
Enterprises for a cash payment of $710,000. At the time of
purchase, Aumont’s balance sheet showed assets of $560,000,
liabilities of $240,000, and owners’ equity of $320,000. The fair
value of Aumont’s assets is estimated to be $790,000.
Compute the amount of goodwill acquired by Flint.
Value assigned to goodwill
$
Carla Vista's Sandhill Co. has a capital balance on January 1, 2021, of $26,900. Carla Vista has drawings of $14,000. Prepare a statement of owner's equity for the year assuming that net income is $16,700 for the year. (List items that increase owner's equity first CARLA VISTA'S SANDHILL CO. Statement of Owner's Equity
On September 1, 2020, Flounder Corporation acquired Tunneling Limited for a cash payment of $864,700. At the time of purchase, Tunneling's statement of financial position showed assets of $905,000, liabilities of $462,400, and owners' equity of $442,600. The fair value of Tunneling's assets is estimated to be $1,165,000. Assume that Flounder Corporation is a public company and that the goodwill was allocated entirely to one cash- generating unit (CGU). Two years later, information about the CGU is as follows: carrying...
Carla Vista Co. has two notes payable outstanding on December 31, 2021, as follows: (a) A five-year, 6.4%, $76,000 note payable issued on August 31, 2021. Carla Vista Co. is required to pay $15,200 plus interest on August 31 each year starting in 2022. (b) A four-year, 5.7%, $86,400 note payable issued on September 30, 2021. Carla Vista Co. is required to pay $1,800 plus interest at the end of each month starting on October 31, 2021. All payments are...
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