Homework Answers
Fair Value
Receivables $144100
Inventory $77400
Copyrights $509500
Patented Technology $744000
Total Assets $1475000
Current Liabilities $235000
Long term Liabilities $671300
Net identifiable assets $568700
Cash paid as consideration $745000
Add: contingent cosideration fair value $43800
Total Consideration $788800
Goodwill $220100 (788800 - 568700)
When technical feasibility of the
intangible assets can not be established,
intangible assets are not recognised.
1) Journal Entry Debit Credit
Receivables $144100
Inventory $77400
Copyrights $509500
Patented Technology $744000
Goodwill $220100
Current liabilities $235000
Long term liabilities $671300
Cash $745000
Contingent consideration $43800
(Business acquired)
2) Professional Fees expense $133500
Cash $133500
(paid to merchant bankers)
Net Identifiable assets $568700
Consideration paid in cash $848700
Add: contingent consideration $43800
Goodwill $323800
3) Journal Entry Debit Credit
Receivables $144100
Inventory $77400
Copyrights $509500
Patented Technology $744000
Goodwill $323800
Current liabilities $235000
Long term liabilities $671300
Cash $848700
Contingent consideration $43800
(Business acquired)
4) Professional fees expense $133500
Cash $133500
(paid to merchant bankers)
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On May 1, Soriano Co. reported the following account balances along with their estimated fair values:...
On May 1, Soriano Co. reported the following account balances along with their estimated fair values:...
On May 1, Soriano Co. reported the following account balances along with their estimated fair values: Carrying Amount Fair Value Receivables $ 144,100 $ 144,100 Inventory 77,400 77,400 Copyrights 135,500 509,500 Patented technology 901,000 744,000 Total assets $ 1,258,000 $ 1,475,000 Current liabilities $ 235,000 $ 235,000 Long-term liabilities 686,000 671,300 Common stock 100,000 Retained earnings 237,000 Total liabilities and equities $ 1,258,000 On that day, Zambrano paid cash to acquire all of the assets and liabilities of Soriano, which...
On May 1, Soriano Co. reported the following account balances along with their estimated fair values:...
On May 1, Soriano Co. reported the following account balances along with their estimated fair values: Carrying Amount Fair Value Receivables $ 133,500 $ 133,500 Inventory 77,000 77,000 Copyrights 154,500 530,500 Patented technology 911,000 737,000 Total assets $ 1,276,000 $ 1,478,000 Current liabilities $ 190,000 $ 190,000 Long-term liabilities 756,000 738,200 Common stock 100,000 Retained earnings 230,000 Total liabilities and equities $ 1,276,000 On that day, Zambrano paid cash to acquire all of the assets and liabilities of Soriano, which...
On May 1, Soriano Co. reported the following account balances along with their estimated fair values:...
On May 1, Soriano Co. reported the following account balances along with their estimated fair values: Receivables Inventory Copyrights Patented technology Total aseta Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and equition Carrying Amount Fair Value $ 163,900 $ 163,900 89,600 89,600 151,500 592,500 917,000 702,000 $ 1,322,000 $1,548,000 $ 239,000 $ 239,000 741,000 724,000 100,000 242,000 $ 1,322,000 On that day, Zambrano paid cash to acquire all of the assets and liabilities of Soriano, which will...
On May 1, Soriano Co. reported the following account balances along with their estimated fair values:...
On May 1, Soriano Co. reported the following account balances along with their estimated fair values: Carrying Amount Fair Value Receivables $ 83,900 $ 83,900 Inventory 74,600 74,600 Copyrights 150,500 586,500 Patented technology 890,000 691,000 Total assets $ 1,199,000 $ 1,436,000 Current liabilities $ 178,000 $ 178,000 Long-term liabilities 683,000 669,700 Common stock 100,000 Retained earnings 238,000 Total liabilities and equities $ 1,199,000 On that day, Zambrano paid cash to acquire all of the assets and liabilities of Soriano, which...
Saved Problem 2-26 (Algo) (LO 2-5, 2-6, 2-6b, 2-8) On May 1 Soriano Co reported the...
Saved Problem 2-26 (Algo) (LO 2-5, 2-6, 2-6b, 2-8) On May 1 Soriano Co reported the following account balances along with their estimated fair values: Receivables Inventory Patented technology Total arreta Current liabilities Lont-tem lisbilities Common stock Retained earnings Total Tislities and equities Carrying out 144.100 97. 400 115.500 300,000 1.5, 000 $ 235.000 06.000 100,000 237,000 $ 1.250.000 Fair Valge 144.100 77,400 500, 500 744.000 3 1.495.000 3 25.000 671,300 On that day, Zambrano paid cash to acquire all...
On May 1. Soriano Co. reported the following account balances along with their estimated fair values:...
On May 1. Soriano Co. reported the following account balances along with their estimated fair values: Receivables Inventory Copyrights Patented technology Total assets Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and equities Carrying Amount Fair Value S 92,500 $ 92,500 84,000 172,500 537,500 906,000 739,000 $ 1,255,000 $1,453,000 s 205,000 3 205,000 713,000 694,000 100,000 237,000 $ 1,255,000 On that day, Zambrano paid cash to acquire all of the assets and liabilities of Soriano, which will cease...
On May 1, Soriano Co. reported the following account balances along with their estimated fair values:...
On May 1, Soriano Co. reported the following account balances along with their estimated fair values: Carrying Amount Fair Value Receivables $ 163,900 $ 163,900 Inventory 89,600 89,600 Copyrights 151,500 592,500 Patented technology 917,000 702,000 Total assets $ 1,322,000 $ 1,548,000 Current liabilities $ 239,000 $ 239,000 Long-term liabilities 741,000 724,000 Common stock 100,000 Retained earnings 242,000 Total liabilities and equities $ 1,322,000 On that day, Zambrano paid cash to acquire all of the assets and liabilities of Soriano, which...
Please Help!!! On May 1, Soriano Co. reported the following account balances along with their estimated...
Please Help!!!
On May 1, Soriano Co. reported the following account balances along with their estimated fair values: Carrying Fair Value Amount Receivables 245,300 245,300 79,200 125,500 875,000 $1,325,000 Inventory Сopyrights Patented technology 79,200 505,500 658,000 Total assets 1,488,000 Current liabilities 253,000 740,000 100,000 232,000 253,000 729,800 Long-term liabilities Common stock Retained earnings Total liabilities and equities 1,325,000 On that day, Zambrano paid cash to acquire all of the assets and liabilities of Soriano, which will cease to exist as...
1. Record the acquisition of Soriano Co. Assume its initial cash payment to the former owners...
1. Record the acquisition of Soriano Co. Assume its initial cash
payment to the former owners was $872,800.
2. Record the expenses related to the combination. Assume its
initial cash payment to the former owners was $872,800.
3. Record the acquisition of Soriano Co. Assume its initial cash
payment to the former owners was $982,000.
4.Record the expenses related to the combination. Assume its
initial cash payment to the former owners was $982,000.
On May 1, Soriano Co. reported the...
SafeData Corporation has the following account balances and respective fair values on June 30 Book Values...
SafeData Corporation has the following account balances and respective fair values on June 30 Book Values Fair Values Receivables Patented technology Customer relationships In-process research and development Liabilities Common stock Additional paid-in capital Retained earnings deficit, 1/1 Revenues Expenses 109,500 109,500 115,000 115,000 762,000 546,000 (442,000 (442,000) (100,000) (300,000) 734,700 (486,000) 368,800 Privacy First, Inc., obtained all of the outstanding shares of SafeData on June 30 by issuing 20,000 shares of common stock having a $1 par value but a...
On May 1, Soriano Co. reported the following account balances along with their estimated fair values: Receivables Inventory Copyrights Patented technology Total aseta Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and equition Carrying Amount Fair Value $ 163,900 $ 163,900 89,600 89,600 151,500 592,500 917,000 702,000 $ 1,322,000 $1,548,000 $ 239,000 $ 239,000 741,000 724,000 100,000 242,000 $ 1,322,000 On that day, Zambrano paid cash to acquire all of the assets and liabilities of Soriano, which will...
Saved Problem 2-26 (Algo) (LO 2-5, 2-6, 2-6b, 2-8) On May 1 Soriano Co reported the following account balances along with their estimated fair values: Receivables Inventory Patented technology Total arreta Current liabilities Lont-tem lisbilities Common stock Retained earnings Total Tislities and equities Carrying out 144.100 97. 400 115.500 300,000 1.5, 000 $ 235.000 06.000 100,000 237,000 $ 1.250.000 Fair Valge 144.100 77,400 500, 500 744.000 3 1.495.000 3 25.000 671,300 On that day, Zambrano paid cash to acquire all...
On May 1. Soriano Co. reported the following account balances along with their estimated fair values: Receivables Inventory Copyrights Patented technology Total assets Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and equities Carrying Amount Fair Value S 92,500 $ 92,500 84,000 172,500 537,500 906,000 739,000 $ 1,255,000 $1,453,000 s 205,000 3 205,000 713,000 694,000 100,000 237,000 $ 1,255,000 On that day, Zambrano paid cash to acquire all of the assets and liabilities of Soriano, which will cease...
Please Help!!!
On May 1, Soriano Co. reported the following account balances along with their estimated fair values: Carrying Fair Value Amount Receivables 245,300 245,300 79,200 125,500 875,000 $1,325,000 Inventory Сopyrights Patented technology 79,200 505,500 658,000 Total assets 1,488,000 Current liabilities 253,000 740,000 100,000 232,000 253,000 729,800 Long-term liabilities Common stock Retained earnings Total liabilities and equities 1,325,000 On that day, Zambrano paid cash to acquire all of the assets and liabilities of Soriano, which will cease to exist as...
1. Record the acquisition of Soriano Co. Assume its initial cash
payment to the former owners was $872,800.
2. Record the expenses related to the combination. Assume its
initial cash payment to the former owners was $872,800.
3. Record the acquisition of Soriano Co. Assume its initial cash
payment to the former owners was $982,000.
4.Record the expenses related to the combination. Assume its
initial cash payment to the former owners was $982,000.
On May 1, Soriano Co. reported the...
SafeData Corporation has the following account balances and respective fair values on June 30 Book Values Fair Values Receivables Patented technology Customer relationships In-process research and development Liabilities Common stock Additional paid-in capital Retained earnings deficit, 1/1 Revenues Expenses 109,500 109,500 115,000 115,000 762,000 546,000 (442,000 (442,000) (100,000) (300,000) 734,700 (486,000) 368,800 Privacy First, Inc., obtained all of the outstanding shares of SafeData on June 30 by issuing 20,000 shares of common stock having a $1 par value but a...
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