Homework Answers
Goodwill shall be amortized under Straight Line Amortization method for period up to 10 years or less.
Annual amortization deduction will be = $2,000,000/10 Years = $200,000.
Answer: $200,000.
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Orange Corporation acquired all of the assets of Lemon Company for $10,000,000. The fair market value...
On March 31, year 1, Michael Brothers Corporation acquired all of the outstanding common stock of...
On March 31, year 1, Michael Brothers Corporation acquired all of the outstanding common stock of Moser Corporation for $20,000,000 in cash. The book values and fair values of Moser's assets and liabilities were as follows: Book Value Fair Value Current assets Property, plant, and equipment $5,000,000 10,000,000 2,000,000 3,000,000 7,000,000 $ 8,000,000 13,000,000 3,000,000 Other assets Current liabilities 3,000,000 Long-term liabilities 5,000,000 Required: Calculate the amount paid for goodwill.
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On May 28, 2021, Pesky Corporation acquired all of the outstanding common stock of Harman, Inc.,...
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On May 28, 2021, Pesky Corporation acquired all of the outstanding common stock of Harman, Inc.,...
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On May 28, 2021, Pesky Corporation acquired all of the outstanding common stock of Harman, Inc., for $570 million. The fair value of Harman's identifiable tangible and intangible assets totaled $617 million, and the fair value of liabilities assumed by Pesky was $163 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 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: $570 million 510 million 594 million Fair value of Harman, Fair value of...
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...
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On May 28, 2021, Pesky Corporation acquired all of the outstanding common stock of Harman, Inc.,...
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On March 31, year 1, Michael Brothers Corporation acquired all of the outstanding common stock of Moser Corporation for $20,000,000 in cash. The book values and fair values of Moser's assets and liabilities were as follows: Book Value Fair Value Current assets Property, plant, and equipment $5,000,000 10,000,000 2,000,000 3,000,000 7,000,000 $ 8,000,000 13,000,000 3,000,000 Other assets Current liabilities 3,000,000 Long-term liabilities 5,000,000 Required: Calculate the amount paid for goodwill.
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