User Account

All Pages

Find what amount should be reported as goodwill as a result

Assignment Help Financial Accounting
Reference no: EM132592977

At the current year-end, Sun Company purchased for P30 per share all 200,000 Moon Company's outstanding ordinary shares. On this date, the acquiree's statement of financial position showed net assets of P5,000,000. Additionally the fair value of the acquiree's identifiable assets on this date was P400,000 in excess of carrying amount.

Question 1: In the statement of financial position, what amount should be reported as goodwill as a result of the acquisition?

Option A. 1,000,000

Option B. 400,000

Option C. 600,000

Option D. 350,000

Reference no: EM132592977

Questions Cloud

Negative way with regards to brand reputation : Write a paper that summarizes how the Internet may affect public opinion in a positive or negative way with regards to brand reputation
Find the depreciation expense under the units-of-activity : Compute the depreciation expense under the Units-of-activity for 2019, assuming machine usage was 1.700 hours methods for the year indicated
How much l should you hire : Your production function is Q = aK + bL. L costs twice as much as K per unit. If a = 2 and b = 1, how much L should you hire?
Discuss why employees join unions : Identify and discuss why employees join unions. What do you believe are the major pros and cons of unions today?
Find what amount should be reported as goodwill as a result : Find what amount should be reported as goodwill as a result of the acquisition?At the current year-end, Sun Company purchased for P30 per share
Workplace law australia : Australian legislation provides for broad responsibilities in relation to workplace health and safety.
What would the gdp for the united states be : Assume that GDP in the United States was 21.5T in 2019. Use "2019 dollars" for all answers/years.
Compute the labor rate and efficiency variances for August : At standard, each set of covers should require 3.3 yards of material. Compute the labor rate and efficiency variances for August
What is the amortization of the competing patent : What is the amortization of the competing patent for 2019?Safe Company was granted a patent on a product on January 1, 2019 with a 20-year useful life.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd