Particulars |
Amount | Amount |
Consolidation Transfered (Fair Value) | $996,000 | |
Cash | $211,000 | |
Accounts Receivable | $169,000 | |
Software | $346,000 | |
Research and Development Asset | $269,000 | |
Liabilities | $(165,000) | |
Fair Valur of Net Identifiable Asset acquired | $830,000 | |
Good Will | $166,000 |
On June 1, Cline Co. paid $996,000 cash for all of the issued and outstanding common...
On June 1, Cline Co. paid $800,000 cash for all of the issued and outstanding common stock of Renn Corp. The carrying amounts for Renn’s assets and liabilities on June 1 follow: Cash $ 150,000 Accounts receivable 180,000 Capitalized software costs 320,000 Goodwill 100,000 Liabilities (130,000 ) Net assets $ 620,000 On June 1, Renn’s accounts receivable had a fair value of $140,000. Additionally, Renn’s in-process research and development was estimated to have a fair value of $200,000. All other...
On June 1, Cline Co paid $1,082,000 cash for all of the issued and outstanding common stock of Renn Corp. The carrying amounts for Renn's assets and liabilities on June 1 follow: Cash $323,000 Accounts Receivables 226,000 Capitalized software costs 399,000 Goodwill 168,000 Liabilities (170,000) Net assets $855,000 On June 1, Renn's accounts receivable had a fair value of $160,000. Additionally, Renn's in-process research and development was estimated to have a fair value of $251,000. All other items were stated...
On June 1, Cline Co. paid $954,500 cash for all of the issued and outstanding common stock of Renn Corp. The carrying amounts for Renn’s assets and liabilities on June 1 follow: Cash $ 171,000 Accounts receivable 274,500 Capitalized software costs 307,000 Goodwill 148,000 Liabilities (156,000 ) Net assets $ 744,500 On June 1, Renn’s accounts receivable had a fair value of $213,000. Additionally, Renn’s in-process research and development was estimated to have a fair value of $241,000. All other...
On June 1, Cline Co. paid $1,030,000 cash for all of the issued and outstanding common stock of Renn Corp. The carrying amounts for Renn’s assets and liabilities on June 1 follow: Cash $ 242,000 Accounts receivable 228,000 Capitalized software costs 370,000 Goodwill 166,000 Liabilities (209,000 ) Net assets $ 797,000 On June 1, Renn’s accounts receivable had a fair value of $161,000. Additionally, Renn’s in-process research and development was estimated to have a fair value of $250,000. All other...
On June 1, Cline Co. paid $1,071,500 cash for all of the issued and outstanding common stock of Renn Corp. The carrying amounts for Renn's assets and liabilities on June 1 follow: Cash Accounts receivable Capitalized software costs Goodwill Liabilities $ 168,000 298,500 376,000 193,000 (196,000) $ 839,500 Net assets On June 1, Renn's accounts receivable had a fair value of $209,000. Additionally, Renn's in-process research and development was estimated to have a fair value of $249,000. All other items...
4th multiple choice) 106,000
Eco 215, 00-01.. Manage your team... Saved Help Save & Exit On June 1, Cline paid $911,000 cash for all of the issued and outstanding common stock of Renn Corp. The carrying amounts for Renn's assets and liabilities on Jun 1 follow: Cash Accounts receivable Capitalized software costs Goodwill Liabilities Net assets $ 161,000 194,000 345,000 168,000 (159,000) $ 709,000 On June 1, Renn's accounts receivable had a fair value of $143,000. Additionally, Renn's in-process research...
On January 1, 2018 Casey Corporation exchanged $3,205,000 cash for 100 percent of the outstanding voting stock of Kennedy Corporation. Casey plans to maintain Kennedy as a wholly owned subsidiary with separate legal status and accounting information systems. At the acquisition date. Casey prepared the following fair-value allocation schedule: Fair value of Kennedy (consideration transferred) Carrying amount acquired Excess fair value to buildings (undervalued) to licensing agreements (overvalued) to goodwill indefinite life) $ 3,205,000 2,600,000 $ 605,000 $ 323,000 (191,000)...
On June 30, 2018, Plaster, Inc., paid $804,000 for 80 percent of Stucco Company's outstanding stock. Plaster assessed the acquisition-date fair value of the 20 percent noncontrolling interest at $201,000. At acquisition date, Stucco reported the following book values for its assets and liabilities: Cash $ 52,800 Accounts receivable 111,600 Inventory 178,200 Land 57,000 Buildings 153,500 Equipment 263,300 Accounts payable (30,800 ) On June 30, Plaster allocated the excess acquisition-date fair value over book value to Stucco's assets as follows:...
On June 30, 2018, Plaster, Inc., paid $844,000 for 80 percent of Stucco Company's outstanding stock. Plaster assessed the acquisition-date fair value of the 20 percent noncontrolling interest at $211,000. At acquisition date, Stucco reported the following book values for its assets and liabilities: Cash Accounts receivable Inventory Land Buildings Equipment Accounts payable $ 55,300 117,100 187,200 60,000 161,500 276,800 (32,300) On June 30, Plaster allocated the excess acquisition-date fair value over book value to Stucco's assets as follows: Equipment...
On January 1, 2018 Casey Corporation exchanged $3,251,000 cash for 100 percent of the outstanding voting stock of Kennedy Corporation. Casey plans to maintain Kennedy as a wholly owned subsidiary with separate legal status and accounting information systems. At the acquisition date, Casey prepared the following fair-value allocation schedule Fair value of Kennedy (consideration transferred) Carrying amount acquired Excess fair value 3,251,000 2,600,000 $ 651,000 to buildings (undervalued) to licensing agreements (overvalued) to goodwill (indefinite life) 322,000 141,000 181,000 $...