User Account

All Pages

Prepare a schedule to determine goodwill

Assignment Help Accounting Basics
Reference no: EM131875827

Question - On January 1, 2011, John Doe Enterprises (JDE) acquired a 55% interest in bubba Manufacturing Inc. (BMI). JDE paid for the transaction with $3 million cash and 500,000 shares of JDE common stock (par value $1.00 per share). At the time of the acquisition, BMI's book value was $16,970,000.

On January 1 JDE stock had a market value of $14.90 per share and there was no control premium in this transaction. Any consideration transferred over book value is assigned to goodwill. BMI had the following balances on January 1, 2011

Land. Book value 1700000 FMV: 2550000

buildings 7 remaining life Book value:2700000 FMV 3400000

equipment 5 year remaining life Book value 3700000 FMV 3300000

For internal reporting purposes, jde employed the equity method to account for this investment.

Prepare a schedule to determine goodwill, and the amortization and allocation amounts.

Reference no: EM131875827

Questions Cloud

Determine the quantity of spoiled units : Discuss how you would determine the quantity of spoiled units that are normal versus abnormal. Describe the product and the production process
Identify which special education law impacts students : Explain how you will collaborate with the child's speech and language pathologist (SLP) and why this collaboration is important.
Advantages of valuating stock based on discounted cash flows : What are some advantages of valuating a stock based on discounted cash flows?
Drawbacks or the benefits of focusing on the consideration : Describe two lessons you would educate senior executives on to emphasize either the drawbacks or the benefits of focusing on this consideration.
Prepare a schedule to determine goodwill : For internal reporting purposes, jde employed the equity method to account for this investment. Prepare a schedule to determine goodwill
Use the internet to research role of credit default swaps : Use the Internet to research the role of credit default swaps (CDSs) and other derivatives in the financial collapse of 2008.
Explain at least three ways a person can teach : Explain at least three ways a person can teach by example according to the article and provide a personal example in which you have demonstrated this concept.
Biotech firm that promote and advocates sustainable food : Carbivore is biotech firm that promote and advocates sustainable food choices. The one period holding return is 10%.
Calculate the full taxable income : Determine the amount of Milt's income that is subject to income tax by each state. Make sure to calculate the full taxable income

Reviews

Write a Review

Accounting Basics Questions & Answers

  Venture company earned 8000 of service revenue on account

venture company earned 8000 of service revenue on account during 2010. the company collected 5200 cash from accounts

  Consolidated balance sheet after acquisition

Based on the preceding information, what amount of total liabilities was reported in the consolidated balance sheet immediately after acquisition?

  Prt a living legend construction company uses the

part a. living legend construction company uses the percentage-of-completion method of accounting. in 2010 living

  What are the total equivalent units for conversion costs

Assuming that all direct materials are placed in process at the beginning of production, what are the total equivalent units for conversion costs

  Prepare the bank reconciliation for this company

On July 31, the company's Cash account has a $25,862 debit balance, Prepare the bank reconciliation for this company as of July 31, 2009

  Discuss how the personal selling techniques could be

discuss how the personal selling techniques could be applied at a store you frequently visit. provide specific examples

  What is bravo company accounting entry

They are paid on March 3. The customer takes the discount, what is Bravo Company's accounting entry on March 3, 200X

  Find the regression line predicting price

The data for hard drives in Exercise 6 omitted a 200 GB drive that sold for $299.00. a) Find the regression line predicting Price from Capacity with this hard drive added.

  Find the clovelly share of bronte profit for the year

Clovelly Ltd, owns 25% of Bronte Ltd. Find the Clovelly's share of Bronte's profit for the year ended 30 June 20X3

  Prepare t-accounts showing how the above costs flow through

hawthorn corporation manufactures custom all terrain vehicles atvs and uses a job costing system to assign and track

  Adjusting entries shabbona corporation operates a retail

adjusting entries shabbona corporation operates a retail computer store. to improve delivery services to customers the

  What ethical issue is at stake

What ethical issue is at stake? Should the controller's argument be accepted if she does not really know much about copier technology?

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