Homework Answers
I hope this clarifies you question. Pls rate and comment in case of any query.
Add Answer to:
10) On March 15, 20x5, the Hamilton Company acquired all of the common stock of Ace...
On July 31, 2019, Mexico Company paid to acquire all of the common stock of Conchita Incorporated...
On July 31, 2019, Mexico Company paid to acquire all of the common stock of Conchita Incorporated, which became a division of Mexico Conchita reported the following balance sheet at the time of the acquisition Current assets Noncurrent assets $3,500,000 $800,000 Current liabilities $2,700,000 Long-term liabilities $3,500,000 |Stockholders' equity $600,000 $500,000 $2,400,000 Total liabilities and stockholders' equity$3,500,000 Total assets It was determined at the date of the purchase that the fair value of the identifiable net assets of Conchit $2,850,000...
35. Goodwill, impairment. On May 3, 2018, Armstrong Company paid $3,500,000 to acquire all of the...
35. Goodwill, impairment. On May 3, 2018, Armstrong Company paid $3,500,000 to acquire all of the common stock of Hall Corporation, which became a division of Armstrong. Hall reported the following balance sheet at the time of the acquisition: $ 900,000 2,700,000 Current liabilities Long-term liabilities Stockholders' equity Total liabilities and S 600,000 500,000 2,500,000 Current assets Noncurrent assets Total assets stockholders' equity $3,600,000 It was determined at the date of the purchase that the fair value of the identifiable...
On July 31, 2017, Sunland Company paid $2,850,000 to acquire all of the common stock of...
On July 31, 2017, Sunland Company paid $2,850,000 to acquire all of the common stock of Conchita Incorporated, which became a division of Sunland. Conchita reported the following balance sheet at the time of the acquisition. Current assets $750,000 Current liabilities $560,000 Noncurrent assets 2,550,000 Long-term liabilities 460,000 Total assets $3,300,000 Stockholders’ equity 2,280,000 Total liabilities and stockholders’ equity $3,300,000 It was determined at the date of the purchase that the fair value of the identifiable net assets of Conchita...
On July 31, 2020, Wildhorse Company paid $2,850,000 to acquire all of the common stock of...
On July 31, 2020, Wildhorse Company paid $2,850,000 to acquire all of the common stock of Conchita Incorporated, which became a division (a reporting unit) of Wildhorse. Conchita reported the following balance sheet at the time of the acquisition. Current assets $750,000 Current liabilities $600,000 Noncurrent assets 2,550,000 Long-term liabilities 500,000 Total assets $3,300,000 Stockholders’ equity 2,200,000 Total liabilities and stockholders’ equity $3,300,000 It was determined at the date of the purchase that the fair value of the identifiable net...
On July 31, 2020, Carla Vista Company paid $3,000,000 to acquire all of the common stock of Conchita Incorporated, which...
On July 31, 2020, Carla Vista Company paid $3,000,000 to acquire all of the common stock of Conchita Incorporated, which became a division (a reporting unit) of Carla Vista. Conchita reported the following balance sheet at the time of the acquisition. Current assets $710,000 Current liabilities $600,000 Noncurrent assets 2,700,000 Long-term liabilities 500,000 Total assets $3,410,000 Stockholders’ equity 2,310,000 Total liabilities and stockholders’ equity $3,410,000 It was determined at the date of the purchase that the fair value of the...
On May 31, 2016, Columbanus Company paid $2,000,000 to acquire all of the common stock of...
On May 31, 2016, Columbanus Company paid $2,000,000 to acquire all of the common stock of Mistor Corporation, which became a division of Columbanus. Mistor reported the following balance sheet at the time of the acquisition: It was determined at the date of the purchase that the fair value of the identifiable net assets of Mistor was $1,875,000. At December 31, 2016, Mistor reports the following balance sheet information: The recorded amount for Mistor's net assets (excluding goodwill) is the...
Compute the amount of goodwill recognized, if any, on July 31, 2020. (If answer is zero,...
Compute the amount of goodwill recognized, if any, on July 31,
2020. (If answer is zero, do not leave answer field
blank. Enter 0 for the amount.)
Find:
Goodwill recognized on july 31, 2020 =
Imparement loss to be recorded december 31, 2020 =
Assuming fair value of conchita division is 1,460,000 instead of
1,850,000, the new impairment loss is =
Question 4 On July 31, 2020, Blossom Company paid $2,900,000 to acquire all of the common stock of Conchita...
Problem 12-4 On July 31, 2017, Crane Company paid $2,750,000 to acquire all of the common...
Problem 12-4
On July 31, 2017, Crane Company paid $2,750,000 to acquire all of
the common stock of Conchita Incorporated, which became a division
of Crane. Conchita reported the following balance sheet at the time
of the acquisition.
Current assets
$830,000
Current liabilities
$530,000
Noncurrent assets
2,450,000
Long-term liabilities
430,000
Total assets
$3,280,000
Stockholders’ equity
2,320,000
Total liabilities and stockholders’
equity
$3,280,000
It was determined at the date of the purchase that the fair value
of the identifiable net assets...
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 July 31, 2019, Mexico Company paid to acquire all of the common stock of Conchita Incorporated, which became a division of Mexico Conchita reported the following balance sheet at the time of the acquisition Current assets Noncurrent assets $3,500,000 $800,000 Current liabilities $2,700,000 Long-term liabilities $3,500,000 |Stockholders' equity $600,000 $500,000 $2,400,000 Total liabilities and stockholders' equity$3,500,000 Total assets It was determined at the date of the purchase that the fair value of the identifiable net assets of Conchit $2,850,000...
35. Goodwill, impairment. On May 3, 2018, Armstrong Company paid $3,500,000 to acquire all of the common stock of Hall Corporation, which became a division of Armstrong. Hall reported the following balance sheet at the time of the acquisition: $ 900,000 2,700,000 Current liabilities Long-term liabilities Stockholders' equity Total liabilities and S 600,000 500,000 2,500,000 Current assets Noncurrent assets Total assets stockholders' equity $3,600,000 It was determined at the date of the purchase that the fair value of the identifiable...
Compute the amount of goodwill recognized, if any, on July 31,
2020. (If answer is zero, do not leave answer field
blank. Enter 0 for the amount.)
Find:
Goodwill recognized on july 31, 2020 =
Imparement loss to be recorded december 31, 2020 =
Assuming fair value of conchita division is 1,460,000 instead of
1,850,000, the new impairment loss is =
Question 4 On July 31, 2020, Blossom Company paid $2,900,000 to acquire all of the common stock of Conchita...
Problem 12-4
On July 31, 2017, Crane Company paid $2,750,000 to acquire all of
the common stock of Conchita Incorporated, which became a division
of Crane. Conchita reported the following balance sheet at the time
of the acquisition.
Current assets
$830,000
Current liabilities
$530,000
Noncurrent assets
2,450,000
Long-term liabilities
430,000
Total assets
$3,280,000
Stockholders’ equity
2,320,000
Total liabilities and stockholders’
equity
$3,280,000
It was determined at the date of the purchase that the fair value
of the identifiable net assets...
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)...
Most questions answered within 3 hours.
-
A student takes 97.5 ml of a 0.0287 molar KOH solution and
dilutes it to a...
asked 4 minutes ago -
12) A so-called friend has offered to loan you $1,000 for one
year. At the end...
asked 5 minutes ago -
A fair -sided die is rolled four times. What is the probability
that all four rolls...
asked 22 minutes ago -
Today is January 1, 2009. The state of Iowa has offered your
firm a subsidized loan....
asked 11 minutes ago -
True or false: The Pearson's correlation coefficient of +0.4
shows a stronger linear association than a...
asked 25 minutes ago -
A long, nonconducting, solid cylinder of radius 5.5 cm has a
nonuniform volume charge density ρ...
asked 29 minutes ago -
what is the molarity of an HCL solution 28.6ml of a
.175 m NaOH solution is...
asked 31 minutes ago -
Which of the following is true in long-run equilibrium
for both perfect competition and monopolistic competition?...
asked 34 minutes ago -
A
c-chart
is based on the
A.
Poisson distribution.
B.
binomial distribution.
C.
normal distribution.
D....
asked 39 minutes ago -
Composite score on the ACT and the SAT are normally distributed.
Mary scored 26 on the...
asked 45 minutes ago -
2) A board with a mass of 9 kg, which is 4 meters long, rests on...
asked 45 minutes ago -
continuous board that's located along the top edge of the roof
where the rafters connect is...
asked 45 minutes ago