Amount of goodwill acquired by winans

Assignment Help Financial Accounting

Reference no: EM13753358

On September 1, 2012, Winans Corporation acquired Aumont Enterprises for a cash payment of $700,000. At the time of purchase, Aumont’s balance sheet showed assets of $620,000, liabilities of $200,000, and owners’ equity of $420,000. The fair value of Aumont’s assets is estimated to be $800,000.

Compute the amount of goodwill acquired by Winans

Reference no: EM13753358

Questions Cloud

Each proposal and recommend a course of action : MM Corporation has seen its profit increase by over 15% per year during the past three years. The company is considering expansion and believes that it will need to raise $10,000,000. It is considering the following alternatives: Discuss the advantag..

Research share-based payment reporting and spe reporting : Write a 700- to 1,050-word executive memo as a team that includes a description of what you will look for to see if the client is consistent with the generally accepted accounting principles (GAAP).

Investment has cash outflows : If an investment has cash outflows of Q dollars at the end of each year for three years, then the present value of these cash outflows under a 10% rate of return will be:

Explain comparison between piagets and vygotskys theories : Write a professional essay on the comparison between Piaget's and Vygotsky's Theories of Development.

Amount of goodwill acquired by winans : On September 1, 2012, Winans Corporation acquired Aumont Enterprises for a cash payment of $700,000. At the time of purchase, Aumont’s balance sheet showed assets of $620,000, liabilities of $200,000, and owners’ equity of $420,000. The fair value of..

Bad debt expense is recorded at year-end : Which of the following is correct when bad debt expense is recorded at year-end?

Average beta of the new stocks : What must the average beta of the new stocks added to the portfolio be to achieve the desired required rate of return? Attach your Excel file showing your calculations.

Describes the effect of recording the collection : Which of the following statements correctly describes the effect of recording the collection of a $10,000 account receivable for which a 2% sales discount was recorded at the time of collection?

What shortcomings do you see in the bureaucracy : How did you come in contact with the bureaucracy and what shortcomings do you see in the bureaucracy?

User Account

All Pages