Homework Answers
ANSWER:
| ans a | |||
| Acquisition Price | $2,700,000 | ||
| Bok value acquired (5175000*20%) | 1035000 | ||
| Excess payment | $1,665,000 | ||
| Excess fair value -Computing equipment (700000*20%) | 140000 | ||
| Excess fair value-Patented technology (3900000*20%) | 780000 | ||
| Excess fair value-Trade Mark (1850000*20%) | 370000 | ||
| 1290000 | |||
| ans a Goodwill | $375,000 | ||
| Amortization | |||
| Computing equipment (140000/7) | 20000 | ||
| Patented technology (780000/3) | 260000 | ||
| Trademark-indefinate | 0 | ||
| Annual amortization | 280000 | ||
| Carrying Amount | Fair Value | Difference | |
| Cash and receivables | 110,000 | 110,000 | 0 |
| Computing equipment | 5,000,000 | 5,700,000 | 700,000 |
| Patented technology | 100,000 | 4,000,000 | 3,900,000 |
| Trademark | 150,000 | 2,000,000 | 1,850,000 |
| Liabilities | -185,000 | -185,000 | 0 |
| Net Assets | 5,175,000 | 11,625,000 | |
| ans b | |||
| Equity income accural 2017 (1800000*20%) | 360,000 | ||
| Amortization for 2017 | -280000 | ||
| Equity in 2017 earnings of Sauk Trail | 80000 | ||
| Equity income accural 2018 (1985000*20%) | 397000 | ||
| Amortization for 2018 | -280000 | ||
| Equity in 2018 earnings of Sauk Trail | 117000 | ||
| ans c | |||
| Acquisition Price | $2,700,000 | ||
| Equity in 2017 earnings of Sauk Trail | 80000 | ||
| Dividends-(150000*20%) | -30000 | ||
| Investment in Sauk trail dec 31 2017 | $2,750,000 | ||
| Investment in Sauk trail dec 31 2017 | $2,750,000 | ||
| Equity in 2018 earnings of Sauk Trail | 117000 | ||
| Dividends-(160000*20%) | -32000 | ||
| Investment in Sauk trail dec 31 2017 | $2,835,000 | ||
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