User Account

All Pages

Record the amortization on goodwill

Assignment Help Accounting Basics
Reference no: EM132251843

Question -

a. On January 1, 2018, Lettuce Express completed the purchase of Farmers Produce, Inc., for $1,470,000 in cash. The fair value of the identifiable net assets of Farmers Produce was $1,323,000.

b. Included in the assets purchased from Farmers Produce was a patent for a method of processing lettuce valued at $37,800. The original legal life of the patent was 20 years. There are still 17 years left on the patent, but Lettuce Express estimates the patent will be useful for only 9 more years.

c. Lettuce Express acquired a franchise on July 1, 2018, by paying an initial franchise fee of $195,200. The contractual life of the franchise is eight years.

Record the amortization on goodwill.

Reference no: EM132251843

Questions Cloud

What is the theoretical yield of fe : 1) (a) If you start with 150 g of Fe2O3 as the limiting reactant, what is the theoretical yield of Fe?
How many moles of nh3 can be formed : How many moles of NH3 can be formed from 3.0 mol of N2 and 6.0 mol of H2?
Compare and contrast maslow motivation theory and herzbeg : Q1. Compare and contrast Maslow motivation theory and Herzberg motivation theory  Q2. Explain how a manager can help overcome barriers to effective communication in his organization  Q3. Discuss rational decision making process  Q4 Distinguished b..
Draw the full logic symbol of the j-k flip flop : Determine the negative equivalent gate for the AND gate and the NOR gate - Explain the difference between active low and active high logic inputs
Record the amortization on goodwill : On January 1, 2018, Lettuce Express completed the purchase of Farmers Produce, Inc., for $1,470,000 in cash. Record the amortization on goodwill
Write about toyota lean manufacturing concentrating on one : Write about Toyota Lean manufacturing concentrating on one aspect of the lean management.
What total dollar values that towson company should record : What the total dollar values that Towson Company should record for the Unrealized Gain or (Loss) on Trading Securities for 2018
Different functional groups bend : 1. Different functional groups bend, stretch and wag at different frequencies.
Explain economic principles and their applications : Explain economic principles and their applications in the real world. Summarize the different types of market structures and the role of government in economics

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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