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NEED IN 30 MIN PLEASE! Please show work on how you got the
answer please. THank...
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...
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.____________________?
3 of 4. Discounting a Note Receivable Cleveland Company obtained a $15,000 note receivable from a...
3 of 4. Discounting a Note Receivable Cleveland Company obtained a $15,000 note receivable from a customer on Jan 1, 2018. The note, along with interest at 10%, is due on July 1, 2018. On Feb 28, 2018, Cleveland discounted the note at Cincinnati Bank. The bank's discount rate is 12%. Prepare the journal entries required on Feb 28, 2018, to accrue interest and to record the discounting (round all calculations to the nearest dollar) for Cleveland. Chapter 10: PPE...
whats the answer to B?? having trouble figure that part out. please show how you got...
whats the answer to B?? having
trouble figure that part out. please show how you got that
answer
On December 18, 2017, Stephanie Corporation acquired 100 percent of a Swiss company for 4.0 million Swiss francs (CHF), which is indicative of book and fair value. At the acquisition date, the exchange rate was $1.00 = CHF 1. On December 18, 2017, the book and fair values of the subsidiary's assets and liabilities were: CHF Cash Inventory Property, plant & equipment...
Exercise 7-6A Calculate the amount of goodwill (LO7-2) Mainline Produce Corporation acquired all the outstanding common...
Exercise 7-6A Calculate the amount of goodwill (LO7-2) Mainline Produce Corporation acquired all the outstanding common stock of Iceberg Lettuce Corporation for $28,000,000 in cash. The book values and fair values of Iceberg's assets and liabilities were as follows: Current assets Property, plant, and equipment Other assets Current liabilities Long-term liabilities Book Value $11,200,000 27,000,000 2,800,000 7,200,000 18,800,000 Fair Value $14,200,000 33,000,000 3,800,000 7,200,000 17,800,000 Required: Calculate the amount paid for goodwill. (Enter your answer in millions (i.e. 5,000,000 should...
Problem 7-3A Calculate and record goodwill (LO7-2) Fresh Cut Corporation purchased all the outstanding common stock of...
Problem 7-3A Calculate and record goodwill (LO7-2) Fresh Cut Corporation purchased all the outstanding common stock of Premium Meats for $10,800,000 in cash. The book values and fair values of Premium Meats' assets and liabilities were: Fair Value $ 1,000,000 9,300,000 1,100,000 (1,500,000) (1,500,000) 9,900,000 Book Value 1,200,000 7,900,000 180,000 Accounts Receivable Equipment Patents Notes Payable $7,780,000 Net assets Required: 1. Calculate the amount Fresh Cut should report for goodwill. (Enter your answer in millions rounded to 2 decimal places...
Could you explain how to reach 2,850,000 goodwill. Consolidated balance sheet DataCloud purchased all of the...
Could you explain how to reach 2,850,000 goodwill.
Consolidated balance sheet DataCloud purchased all of the shares of Supercore for $30 million in cash. The balance sheets of DataCloud and Supercore just after the acquisition appear below, along with fair value information for Supercore's net assets. DataCloud Supercore Book Value Book Value Fair Value Dr (Cr) Current assets $10,000,000 $5,000,000 $4,000,000 Plant assets 40,000,000 36,000,000 25,000,000 Identifiable intangible assets 10,000,000 Investment in Supercore 30,000,000 Liabilities (35,000,000) (37,800,000) (37,500,000) Capital stock...
Please show me how to get the correct answers. Thank you. The Holtz Corporation acquired 80...
Please show me how to get the correct answers. Thank you.
The Holtz Corporation acquired 80 percent of the 100.000 outstanding voting shares of Devine, Inc., for $7:10 per share on January 1. 2020. The remaining 20 percent of Devine's shares also traded actively at $7.10 per share before and after Holtz's acquisition. An appraisal made on that date determined that all book values appropriately reflected the fair values of Devine's underlying accounts except that a building with a 5-year...
1. In 2013, Book Creations Company published a management book and got it copyrighted in the...
1. In 2013, Book Creations Company published a management book and got it copyrighted in the same year. The legal life of the book is 15 years and estimated useful life is 10 years. For how many years should the cost of copyright be amortized? Question 1 options: a. 70 years b. 15 years c. 10 years d. 12.5 years e. 0 year 2.Kremlin Company pays $2,900,000 for all of the outstanding common stock of Reticular Corporation. Reticular has assets...
need help asap... please fix the errors asap Pushdown Accounting Assume a parent company acquires its...
need help asap... please fix the errors asap
Pushdown Accounting Assume a parent company acquires its subsidiary by paying $1,200,000 for all of the outstanding voting shares of the investee. On the acquisition date, subsidiary's assets and liabilities have individual fair values that equal their book values, except for property equipment with a fair value greater than book value by $150,000 and license with a fair value greater than book value by $250,000. The parent and subsidiary have the following...
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...
3 of 4. Discounting a Note Receivable Cleveland Company obtained a $15,000 note receivable from a customer on Jan 1, 2018. The note, along with interest at 10%, is due on July 1, 2018. On Feb 28, 2018, Cleveland discounted the note at Cincinnati Bank. The bank's discount rate is 12%. Prepare the journal entries required on Feb 28, 2018, to accrue interest and to record the discounting (round all calculations to the nearest dollar) for Cleveland. Chapter 10: PPE...
whats the answer to B?? having
trouble figure that part out. please show how you got that
answer
On December 18, 2017, Stephanie Corporation acquired 100 percent of a Swiss company for 4.0 million Swiss francs (CHF), which is indicative of book and fair value. At the acquisition date, the exchange rate was $1.00 = CHF 1. On December 18, 2017, the book and fair values of the subsidiary's assets and liabilities were: CHF Cash Inventory Property, plant & equipment...
Exercise 7-6A Calculate the amount of goodwill (LO7-2) Mainline Produce Corporation acquired all the outstanding common stock of Iceberg Lettuce Corporation for $28,000,000 in cash. The book values and fair values of Iceberg's assets and liabilities were as follows: Current assets Property, plant, and equipment Other assets Current liabilities Long-term liabilities Book Value $11,200,000 27,000,000 2,800,000 7,200,000 18,800,000 Fair Value $14,200,000 33,000,000 3,800,000 7,200,000 17,800,000 Required: Calculate the amount paid for goodwill. (Enter your answer in millions (i.e. 5,000,000 should...
Problem 7-3A Calculate and record goodwill (LO7-2) Fresh Cut Corporation purchased all the outstanding common stock of Premium Meats for $10,800,000 in cash. The book values and fair values of Premium Meats' assets and liabilities were: Fair Value $ 1,000,000 9,300,000 1,100,000 (1,500,000) (1,500,000) 9,900,000 Book Value 1,200,000 7,900,000 180,000 Accounts Receivable Equipment Patents Notes Payable $7,780,000 Net assets Required: 1. Calculate the amount Fresh Cut should report for goodwill. (Enter your answer in millions rounded to 2 decimal places...
Could you explain how to reach 2,850,000 goodwill.
Consolidated balance sheet DataCloud purchased all of the shares of Supercore for $30 million in cash. The balance sheets of DataCloud and Supercore just after the acquisition appear below, along with fair value information for Supercore's net assets. DataCloud Supercore Book Value Book Value Fair Value Dr (Cr) Current assets $10,000,000 $5,000,000 $4,000,000 Plant assets 40,000,000 36,000,000 25,000,000 Identifiable intangible assets 10,000,000 Investment in Supercore 30,000,000 Liabilities (35,000,000) (37,800,000) (37,500,000) Capital stock...
Please show me how to get the correct answers. Thank you.
The Holtz Corporation acquired 80 percent of the 100.000 outstanding voting shares of Devine, Inc., for $7:10 per share on January 1. 2020. The remaining 20 percent of Devine's shares also traded actively at $7.10 per share before and after Holtz's acquisition. An appraisal made on that date determined that all book values appropriately reflected the fair values of Devine's underlying accounts except that a building with a 5-year...
need help asap... please fix the errors asap
Pushdown Accounting Assume a parent company acquires its subsidiary by paying $1,200,000 for all of the outstanding voting shares of the investee. On the acquisition date, subsidiary's assets and liabilities have individual fair values that equal their book values, except for property equipment with a fair value greater than book value by $150,000 and license with a fair value greater than book value by $250,000. The parent and subsidiary have the following...
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