Homework Answers
| answer 1 | ||
| Acquisition price | $12,920,000 | |
| Less: | ||
| Book value of net assets | 9400000 | |
| Add: | ||
| Fair value in excess of book value of | ||
| Property Plant & equipment (11160000-9600000) | 1560000 | |
| Intangible assets (1520000-360000) | 1160000 | |
| Less; Book value excess than faur value of receivables | -360000 | 11760000 |
| Goodwill | $1,160,000 | |
| ans 2 | ||
| Dr | Cr | |
| Investment in Smith Corporation | $12,920,000 | |
| Cash | $12,920,000 | |
| (being acquisition of all outstanding shares) | ||
| Net Assets | 11760000 | |
| Goodwill | $1,160,000 | |
| Investment in Smith Corporation | $12,920,000 | |
| (as all assets and liabiilties not provided hence net assets taken) | ||
| If any doubt please comment | ||
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son Corporation acquired all of the outstanding common stock of Smith Corporation or...
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.____________________?
NEED IN 30 MIN PLEASE! Please show work on how you got the answer please. THank...
NEED IN 30 MIN PLEASE! Please show work on how you got the
answer please. THank you!
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NEED IN 30 MIN PLEASE! Please show work on how you got the
answer please. THank you!
Saved You received no credit for this question in the previous attempt. Check my wor 6. Johnson Corporation acquired all of the outstanding common stock of Smith Corporation for $12,800,000 in cash. The book value of Smith's net assets (assets minus liabilities) was $9,300,000. The fair values of all of Smith's assets and liabilities were equal to their book values with the following...
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