What amount of gain or goodwill is recognized by Ivanhoe

Assignment Help Accounting Basics
Reference no: EM132251853

Question - Ivanhoe Company purchases Miles Company for $3700000 cash on January 1, 2018. The book value of Miles Company's net assets reported on its December 31, 2017 financial statement was $3100000. An analysis indicated that the fair value of Miles's tangible assets exceeded the book value by $500000, and the fair value of identifiable intangible assets exceeded book value by $270000. What amount of gain or goodwill is recognized by Ivanhoe?

$770000 gain.

$500000 goodwill.

$170000 gain.

$170000 goodwill.

Reference no: EM132251853

Questions Cloud

Write the equation for the chemical reaction : Methanol (CH3OH), which is used as a cooking fuel, undergoes combustion to produce carbon dioxide and water. Write the equation for the chemical reaction?
Identify and describe the forecasting model in detail : A start-up alternative fuel automobile company has a first year market forecast of 1000 units. Identify the forecasting model that is in use here and explain.
Uncertainty in present in the procedure : Compare your calculated value to this value and discuss deviation in terms of the . error and uncertainty in present in the procedure.
Find the mass of benzene c6h6 needed to produce : Find the mass of benzene C6H6 needed to produce 2.66 L of carbon dioxide gas at STP?
What amount of gain or goodwill is recognized by Ivanhoe : Ivanhoe Company purchases Miles Company for $3700000 cash on January 1, 2018. What amount of gain or goodwill is recognized by Ivanhoe
What amount should be reported as amortization expense : Its unamortized cost on Royce's books was $1520000. In Ivanhoe's 2017 income statement, what amount should be reported as amortization expense
Accurate to three significant figures : Enter your answer in units of s-1, accurate to three significant figures. Do not include units as part of your answer. For example
How many molecules of calcium sulfate : How many molecules of calcium sulfate will be present in 100 grams of calcium sulfate?
How to proceed getting into function : Please help solve, as I am lost and don't know how to proceed getting into this function.

Reviews

Write a Review

Accounting Basics Questions & Answers

  What information should the proposed system

What information should the proposed system exchange between the retail stores and headquarters?

  Calculate the maximum deduction for cec

Calculate the maximum deduction for CEC in each of the years and the income impact of the sale in 2005.

  Explain the relevance of changes in net income to investors

Explain the relevance of changes in net income to investors. Determine the ending balance in shareholders' equity. Why would organizations such as labor unions.

  Compute dow earnings per share

On February 28,2011, Dow sold 60,000 common shares. In keeping with its long-term share repurchase plan, 2,000 shares were retired on July 1. Dow's net income for the year ended December 31,2011, was $2,100,000. The income tax rate is 40%.

  How is accounting system tailored to capture the expenditure

How is the accounting system tailored to capture the expenditures? Define and discuss how to compute equivalent units and explain their use in process cost accounting

  Market value of an investment in debt securities

When the market value of an investment in debt securities exceeds its carrying amount, how should the asset be reported at the end of the year for each of the following?

  The note received on november 1 and the companys year-end

abc inc. has a 6-month 10000 note receivable bearing 12 apr interest. the note received on november 1 and the companys

  Prepare the stockholders equity section of the balance sheet

Prepare the Stockholders' Equity section of the balance sheet immediately before the stock dividend and immediately after the stock dividend

  What is a code of ethics give an example

What is a code of ethics? Give an example.

  Discuss recorded annual depreciation of office equipment

journal entries were made and posted to the general for the above transactions

  Briefly describe how the two methods differ yet arrive

Briefly describe how the two methods differ yet arrive at the same information about the net cash flows from operating activities

  What are factors that encouraged and hampered the activities

What are factors that encouraged and hampered the activities of activists?

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!

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