Homework Answers
Solution:
Net assets purchased = Fair value of assets - liabilities
= $950600 - $235200 = $715,400
Amount of goodwill = cash payment - net assets purcahsed
= $803600 - 715400 = $88,200
Add Answer to:
On September 1, 2021, Sandhill Corporation acquired Wildhorse Enterprises for a cash payment of $803,600. At...
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
$
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
$
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 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
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...
Incorrect answer iconYour answer is incorrect. The general ledger of Wildhorse Corporation as of December 31,...
Incorrect answer iconYour answer is incorrect. The general ledger of Wildhorse Corporation as of December 31, 2021, includes the following accounts: Copyrights $ 47000 Deposits with advertising agency (will be used to promote goodwill) 24000 Discount on bonds payable 67000 Excess of cost over fair value of identifiable net assets of Acquired subsidiary 450000 Trademarks 79000 In the preparation of Wildhorse's balance sheet as of December 31, 2021, what should be reported as total intangible assets? $529000. $553000. $576000. $600000.
On March 31, 2021, Wolfson Corporation acquired all of the outstanding common stock of Barney Corporation...
On March 31, 2021, Wolfson Corporation acquired all of the outstanding common stock of Barney Corporation for $18,000,000 in cash. The book values and fair values of Barney's assets and liabilities were as follows: Current assets Property, plant, and equipment Other assets Current liabilities Long-term liabilities Book Value $ 7,000,000 12,000,000 1,100,000 5,000,000 7,000,000 Fair Value $ 8,500,000 15,000,000 1,600,000 5,000,000 6,500,000 Required: Calculate the amount paid for goodwill. Goodwill
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...
Arizona Corp. acquired the business Data Systems for $345,000 cash and assumed all liabilities at the date of pur...
Arizona Corp. acquired the business Data Systems for $345,000 cash and assumed all liabilities at the date of purchase. Data's books showed tangible assets of $390,000, liabilities of $24,000, and stockholders' equity of $366,000. An appraiser assessed the fair market value of the tangible assets at $335,000 at the date of acquisition. Arizona Corp.'s financial condition just prior to the acquisition is shown in the following statements model: Assets +Tang. Assets + NA Liab. Equity Rev. Exp. Net Inc. Cash...
On May 28, 2021, Pesky Corporation acquired all of the outstanding common stock of Harman, Inc.,...
On May 28, 2021, Pesky Corporation acquired all of the outstanding common stock of Harman, Inc., for $590 million. The fair value of Harman's identifiable tangible and intangible assets totaled $631 million, and the fair value of liabilities assumed by Pesky was $169 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. $ 570 million Fair value of Harman's net...
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
$
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
$
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 March 31, 2021, Wolfson Corporation acquired all of the outstanding common stock of Barney Corporation for $18,000,000 in cash. The book values and fair values of Barney's assets and liabilities were as follows: Current assets Property, plant, and equipment Other assets Current liabilities Long-term liabilities Book Value $ 7,000,000 12,000,000 1,100,000 5,000,000 7,000,000 Fair Value $ 8,500,000 15,000,000 1,600,000 5,000,000 6,500,000 Required: Calculate the amount paid for goodwill. Goodwill
Arizona Corp. acquired the business Data Systems for $345,000 cash and assumed all liabilities at the date of purchase. Data's books showed tangible assets of $390,000, liabilities of $24,000, and stockholders' equity of $366,000. An appraiser assessed the fair market value of the tangible assets at $335,000 at the date of acquisition. Arizona Corp.'s financial condition just prior to the acquisition is shown in the following statements model: Assets +Tang. Assets + NA Liab. Equity Rev. Exp. Net Inc. Cash...
Most questions answered within 3 hours.
-
What is facilitated diffusion and how does it differ from
symport and antiport transportation? How do...
asked 1 minute from now -
if a firm producing 100 units at $5.00 each experience
an 80% experience curve, what will...
asked 34 minutes ago -
A solid, uniform disk of radius 0.250 m and mass 53.7 kg rolls
down a ramp...
asked 2 hours ago -
Given the following table of high speed internet access vs.
annual home income:
Home Income
%...
asked 3 hours ago -
A baseball batter hits a 0.145kg baseball straight up into the
air. The baseball leaves the...
asked 3 hours ago -
An FM modulator is tested using
single-tone baseband signal with frequency of 50kHz and a sprectrum...
asked 4 hours ago -
Write the ionic equations for the first stage of salts
hydrolysis.
Anion, Cation?
Na2S
NiSO4
K2SO4...
asked 5 hours ago -
suppose there is a normally distributed population with a mean of
250 and a standard deviation...
asked 6 hours ago -
Question Three
Suppose you as project manager are using the Waterfall
development methodology on a large...
asked 7 hours ago -
Which statement is not true about welfare in Canada?
A.Benefits typically vary based on one's ability...
asked 8 hours ago -
Please help me with FLOWCHART and UML diagram for class,
thank you!
#include <iostream>
#include <fstream>...
asked 8 hours ago -
3. Describe the “logic circuit” of the Lac operon. Which
proteins are bound or not to...
asked 8 hours ago