Homework Answers
| Current assets | $480,000 |
| Add: Property, plant & equipment | 2100000 |
| Less: Liabilities | (790000) |
| Fair value | |
| Less: Purchase price | 3900000 |
| Goodwill | $2,110,000 |
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Juliana Corporation purchased all of the outstanding stock of Caldwell Inc., paying $3,900,000 cash. Juliana assumed...
ouTube Maps News Celebrating the Ed... - DUE 12/17 @ 11:59pm Saved Juliana Corporation purchased all...
ouTube Maps News Celebrating the Ed... - DUE 12/17 @ 11:59pm Saved Juliana Corporation purchased all of the outstanding stock of Caldwell Inc., paying $2,900,000 cash. Juliana assumed all of the liabilities of Caldwell. Book values and fair values of acquired assets and liabilities were: Book Value Fair Value Current assets (net) $420,000 $640,000 Property, plant, & equip. (net) 1,680,000 2,130,000 Liabilities 460,000 670,000 Juliana would record goodwill of: Multiple Choice O S 800,000 < Prex 3 of 20 Next...
Northern Equipment Corporation purchased all the outstanding common stock of Pioneer Equipment Re...
Northern Equipment Corporation purchased all the outstanding common stock of Pioneer Equipment Rental for $5,560,000 in cash. The book values and fair values of Pioneer's assets and liabilities were: Fair Value $710,000 $ 610,000 4,060,000 4,760,000 190,000 (790,000)(790,000) Book Value Accounts Receivable Buildings Equipment Accounts Payable 100,000 Net assets $4,080,000 4,770,000 Required: 1. Calculate the amount Northern Equipment should report for goodwill Goodwill $1,000 View transaction list Journal entry worksheet Record the acquisition of Pioneer Equipment Rental. Note: Enter debits...
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.____________________?
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...
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 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 $620 million. The fair value of Harman's identifiable tangible and intangible assets totaled $652 million, and the fair value of liabilities assumed by Pesky was $178 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. Fair value of Harman's net assets (excluding goodwill)...
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 $420 million. The fair value of Harman's identifiable tangible and intangible assets totaled $512 million, and the fair value of liabilities assumed by Pesky was $150 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. $ 400 million Fair value of Harman’s net...
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...
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
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 $520 million. The
fair value of Harman's identifiable tangible and intangible assets
totaled $582 million, and the fair value of liabilities assumed by
Pesky was $156 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.
$
500
million
Fair value of Harman's net...
ouTube Maps News Celebrating the Ed... - DUE 12/17 @ 11:59pm Saved Juliana Corporation purchased all of the outstanding stock of Caldwell Inc., paying $2,900,000 cash. Juliana assumed all of the liabilities of Caldwell. Book values and fair values of acquired assets and liabilities were: Book Value Fair Value Current assets (net) $420,000 $640,000 Property, plant, & equip. (net) 1,680,000 2,130,000 Liabilities 460,000 670,000 Juliana would record goodwill of: Multiple Choice O S 800,000 < Prex 3 of 20 Next...
Northern Equipment Corporation purchased all the outstanding common stock of Pioneer Equipment Rental for $5,560,000 in cash. The book values and fair values of Pioneer's assets and liabilities were: Fair Value $710,000 $ 610,000 4,060,000 4,760,000 190,000 (790,000)(790,000) Book Value Accounts Receivable Buildings Equipment Accounts Payable 100,000 Net assets $4,080,000 4,770,000 Required: 1. Calculate the amount Northern Equipment should report for goodwill Goodwill $1,000 View transaction list Journal entry worksheet Record the acquisition of Pioneer Equipment Rental. Note: Enter debits...
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...
On May 28, 2021, Pesky Corporation acquired all of the outstanding common stock of Harman, Inc., for $620 million. The fair value of Harman's identifiable tangible and intangible assets totaled $652 million, and the fair value of liabilities assumed by Pesky was $178 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. Fair value of Harman's net assets (excluding goodwill)...
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...
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
On May 28, 2021, Pesky Corporation acquired all of the
outstanding common stock of Harman, Inc., for $520 million. The
fair value of Harman's identifiable tangible and intangible assets
totaled $582 million, and the fair value of liabilities assumed by
Pesky was $156 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.
$
500
million
Fair value of Harman's net...
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