User Account

All Pages

How much should be recorded as goodwill for the transaction

Assignment Help Financial Accounting
Reference no: EM132794116

Annapolis Company was recently sold for $450,000. Annapolis had assets & liabilities appraised at the time of the sale in the amounts of:

Item                                                                Amount
Accounts Receivable assumed by buyer      $123,000
Inventory                                                $280,000
Property, Plant & Equipment (net)               $565,000
Notes Payable assumed by buyer                  $645,000

Problem 1: Using this information, how much should be recorded as Goodwill for this transaction?

Reference no: EM132794116

Questions Cloud

How is general george custer depicted in the movie : The movie this week is a classic (which means it is slightly older). It is titled "Little Big Man" and details the fictional story of a white boy named Jack.
How will the affect net income for tax purposes : Make a 2020 CPP contribution of $5,796 [(2)($2,898)]. How will this affect his 2020 Net Income For Tax Purposes and his 2020 Taxable Income?
Should drone attacks be the default choice : Should drone attacks be the default choice? What kind of people are we becoming through the wars we prosecute and the violence we inflict?
Identify four causes for the cold war : Identify four "causes" for the Cold War which began immediately following World War II and lasted for over forty years. Do you feel these causes were justified.
How much should be recorded as goodwill for the transaction : How much should be recorded as Goodwill for this transaction? Annapolis had assets & liabilities appraised at the time of the sale
How did truman action affect the outcome of the korean war : Do you feel President Truman was justified in removing General MacArthur from command in Korea? Was it a wise decision? How did Truman's action affect.
What is kl cost of ordinary shares based on the capm : What is KLs' cost of ordinary shares based on the CAPM? KL has 80,000 bonds outstanding with a face value of $100 each, which have 5 years to maturity.
Which articles analysis do you find most compelling and why : Write a 150-250 word post response to his prompt: Edgerton-Tarpley and Skilton are both concerned with discourses (i.e., circulating patterns of language).
How much will retirement investments be worth : A mid-career business manager has $400,000 $1,000 a month. How much will his retirement investments be worth at the end of 25 years?

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