Accounts | $ | ||||
Net Income(260000-31400) | 228,600 | ||||
Retained earnings 1/1/20 | 815,000 | ||||
Patented technology (net )(927000+293300) | 1,220,300 | ||||
Goodwill(see below) | 51,000 | ||||
Liabilities (579,000 + 374,000 + 109,300) | 1,062,300 | ||||
Common stock (360,000 + ( 22,800 x 10 ) ) | 588,000 | ||||
Additional paid in capital (270,000 + ( 22,800 x 30 ) - 47,400 ) | 906,600 |
Computation of Goodwill | |||
Purchase Consideration | 1,021,300 | ||
(109,300 + ( 22,800 x 40 ) ) | |||
Less: Net assets | |||
Book value | 878,000 | ||
(200,000 + 270,000 + 408,000 ) | |||
Add: Fair value in excess of book value of Equipment | 120,000 | ||
(757,000 - 637,000 ) | |||
Less: Fair value in short of book value of patented technology | 27,700 | 970300 | |
( 321,000 - 293,300 ) | |||
Goodwill | 51,000 | ||
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omework i Saved On June 30, 2020, Wisconsin, Inc., issued $109,300 in debt and 22,800 new...
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