Homework Answers
Add Answer to:
Hendrie Inc. acquired the listed assets and liabilities of Smith Corp. for $2,200,000 cash on 1...
Pepper Company acquired the assets (with the exception of cash) and assumed the liabilities of Salt...
Pepper Company acquired the assets (with the exception of cash) and assumed the liabilities of Salt Company on January 2, 2020. As compensation, Pepper gave 30,000 shares of its common stock, 15,000 shares of its Preferred Stock, and cash of $50,000 to the Salt stockholders. On the acquisition date, Pepper Company stock had the following characteristics. STOCK Common $10 $25 Preferred $100 $100 Immediately prior to the acquisition, Salt Corporation's balance sheet reflected the following book and fair values. Salt...
Allerton Company acquires all of Deluxe Company's assets and liabilities for cash on January 1, 2018,...
Allerton Company acquires all of Deluxe Company's assets and liabilities for cash on January 1, 2018, and subsequently formally dissolves Deluxe. At the acquisition date, the following book and fair values were available for the Deluxe Company accounts Book Values Fair Values 50,000 53,050 41,550 35,800 Current assets Building Land Trademark Goodwil1 Liabilities Common stock Retained earnings 50,000 94,250 21,750 22,000 (53,000) (100,000) (35,000) (53,000) 1&2. Prepare Allerton's entry to record its acquisition of Deluxe in its accounting records assuming...
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...
Allerton Company acquires all of Deluxe Company’s assets and liabilities for cash on January 1, 2018,...
Allerton Company acquires all of Deluxe Company’s assets and liabilities for cash on January 1, 2018, and subsequently formally dissolves Deluxe. At the acquisition date, the following book and fair values were available for the Deluxe Company accounts: Book Values Fair Values Current assets $ 24,500 $ 24,500 Building 109,500 68,000 Land 11,000 25,300 Trademark 0 31,800 Goodwill 38,000 ? Liabilities (48,000 ) (48,000 ) Common stock (100,000 ) Retained earnings (35,000 ) 1&2. Prepare Allerton’s entry to record its...
Allerton Company acquires all of Deluxe Company’s assets and liabilities for cash on January 1, 2015,...
Allerton Company acquires all of Deluxe Company’s assets and liabilities for cash on January 1, 2015, and subsequently formally dissolves Deluxe. At the acquisition date, the following book and fair values were available for the Deluxe Company accounts: Book Values Fair Values Current assets $ 46,750 $ 46,750 Building 100,750 57,850 Land 15,750 35,350 Trademark 0 38,000 Goodwill 23,000 ? Liabilities (51,250) (51,250) Common stock (100,000) Retained earnings (35,000) Prepare Allerton’s entry to record its acquisition of Deluxe...
Barton Corp acquired 100% of Google Inc. on January 1, 2020, in exchange for cash. The...
Barton Corp acquired 100% of Google Inc. on January 1, 2020, in exchange for cash. The book value of Google's individual assets and Liabilities approximated their acquisition-date fair values. On the date of acquisition, Google reported the following cash 350,000 Current Liabilities 120,000 Inventory 100,000 Plant Assets 320,000 Common Stock 100,000 Property 500,000 Retained Earnings 1,050,000 Total Assets 1,270,000 Total Liabilities & Equities 1,270,000 During the year google inc. reported 310,000 in net income and declared 15,000 in dividends. Barton...
During the current year, Brewer Company acquired all of the outstanding common stock of Miller Inc. paying $11,100,000 cash. The book values and fair values of Miller's assets and liabilitie...
During the current year, Brewer Company acquired all of the outstanding common stock of Miller Inc. paying $11,100,000 cash. The book values and fair values of Miller's assets and liabilities acquired are listed below: 15 Book Value Fair Value Accounts receivable 1,350,000 $ 1,175,000 1,800,000 3100,000 8,100,000 10,725,000 2,100,000 2,100,000 3,600,000 3,225,000 Inventories Property, plant, and points equipment Accounts payable Bonds payable Print Required: Prepare the journal entry to record the acquisition by Brewer Company. (If no entry is required...
please show work son Corporation acquired all of the outstanding common stock of Smith Corporation or...
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...
In a pre-2009 business combination, Acme Company acquired all of Brem Company’s assets and liabilities for...
In a pre-2009 business combination, Acme Company acquired all of Brem Company’s assets and liabilities for cash. After the combination Acme formally dissolved Brem. At the acquisition date, the following book and fair values were available for the Brem Company accounts: Book Values Fair Values Current assets $ 56,800 $ 56,800 Equipment 157,000 220,000 Trademark 0 330,000 Liabilities (68,800 ) (68,800 ) Common stock (100,000 ) Retained earnings (45,000 ) In addition, Acme paid an investment bank $28,100 cash for...
In a pre-2009 business combination, Acme Company acquired all of Brem Company’s assets and liabilities for...
In a pre-2009 business combination, Acme Company acquired all of Brem Company’s assets and liabilities for cash. After the combination Acme formally dissolved Brem. At the acquisition date, the following book and fair values were available for the Brem Company accounts: Book Values Fair Values Current assets $ 81,800 $ 81,800 Equipment 131,000 198,000 Trademark (0) 352,000 Liabilities (67,800 ) (67,800 ) Common stock (100,000 ) (0) Retained earnings (45,000 ) (0) In addition, Acme paid an investment bank $31,200...
Pepper Company acquired the assets (with the exception of cash) and assumed the liabilities of Salt Company on January 2, 2020. As compensation, Pepper gave 30,000 shares of its common stock, 15,000 shares of its Preferred Stock, and cash of $50,000 to the Salt stockholders. On the acquisition date, Pepper Company stock had the following characteristics. STOCK Common $10 $25 Preferred $100 $100 Immediately prior to the acquisition, Salt Corporation's balance sheet reflected the following book and fair values. Salt...
Allerton Company acquires all of Deluxe Company's assets and liabilities for cash on January 1, 2018, and subsequently formally dissolves Deluxe. At the acquisition date, the following book and fair values were available for the Deluxe Company accounts Book Values Fair Values 50,000 53,050 41,550 35,800 Current assets Building Land Trademark Goodwil1 Liabilities Common stock Retained earnings 50,000 94,250 21,750 22,000 (53,000) (100,000) (35,000) (53,000) 1&2. Prepare Allerton's entry to record its acquisition of Deluxe in its accounting records assuming...
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...
During the current year, Brewer Company acquired all of the outstanding common stock of Miller Inc. paying $11,100,000 cash. The book values and fair values of Miller's assets and liabilities acquired are listed below: 15 Book Value Fair Value Accounts receivable 1,350,000 $ 1,175,000 1,800,000 3100,000 8,100,000 10,725,000 2,100,000 2,100,000 3,600,000 3,225,000 Inventories Property, plant, and points equipment Accounts payable Bonds payable Print Required: Prepare the journal entry to record the acquisition by Brewer Company. (If no entry is required...
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...
Most questions answered within 3 hours.
-
How much 0.1200 M sodium hydroxide solution is need to titrate
14 mL of a 0.100...
asked 8 seconds ago -
The Poseidon Swim Company produces swim trunks. The average
selling price for one of their swim...
asked 20 minutes ago -
If the elasticity of supply of a good is ∞, then its
A. supply curve is...
asked 6 minutes ago -
An impulse is a change in momentum usually over
a short time. For which of the...
asked 4 minutes ago -
Write an application for the Shady Rest Hotel; the program
determines the price of a room....
asked 10 minutes ago -
USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (6)
QUESTIONS:
The following is a December 31,...
asked 26 minutes ago -
Suppose you plan to invest $5,000 each year (beginning at the
end of this year) into...
asked 17 minutes ago -
What is the cell potential of the following cell at 25
oC? Note Au is a...
asked 18 minutes ago -
DNA to Protein
Describe the mutation that created the HbS allele:
type of mutation, location of...
asked 23 minutes ago -
1a)When a 5000-kg roller coaster train full of riders approaches
the loading dock at a speed...
asked 24 minutes ago -
Which attribute allows you to specify a custom "thumbnail" for
multimedia elements?
asked 24 minutes ago -
1. Why are the advantages and disadvantages of object-oriented
databases? 2. What are data marts? How...
asked 43 minutes ago