Excess amortization expense

Assignment Help Accounting Basics
Reference no: EM13123810

Allen, Inc. buys all of the outstanding shares of Cookeville Ice Cream Company on April 1, 2012 for $860,000 cash. Cookeville Ice Cream's book value at the acquisition date was $600,000. At the acquisition date, Cookeville Ice Cream has equipment with a book value of $140,000 and a fair value of $110,000. The equipment has a remaining useful life of 3 years. The building has a remaining useful life of 10 years. Cookeville Ice Cream is carrying land on its books with fair value of $60,000. The original cost of the land was $26,000. Allen, Inc. incurred $5,000 legal costs related directly to the combination. How much goodwill will be reported in the consolidation financial statements on December 31, 2012, at the end of Allen's fiscal year? What is the excess amortization expense for the period ending December 31, 2012?

Reference no: EM13123810

What amount should nayak report as on its balance sheet

The highly liquid investments had maturities of 3 months or less when they were purchased. The stock investments will be sold in the next 6 to 12 months. The plant expansion p

Binomial acceptance sampling plan with sample size

Binomial acceptance sampling. For a binomial acceptance sampling plan with sample size n = 20 and acceptance number y= 0, calculate and plot the OC function. Do the same for

Computing expected utility cost by high-low method

Frenchy's Company needs to determine the variable utilities rate per machine hour in order to estimate cost for August. Relevant information is as follows: determine the exp

Determining expected purchase price

A company, which sells two different models of an item, finds 65% of its customers buy the cheaper model, for $95. The remaining 35% of the customers pay $125 for the more e

Preparation of single step and multi step income statement

The accountant of Whitney Houston Shoe Co. has compiled the following information from the company's records as a basis for an income statement for the year ended December 3

Computation of unit costs

Compute the unit cost for each department. Compute the total unit cost for the Milo Company order. The selling price for this order was $14 per unit. Was the selling price ade

Payroll-what it means to you

Do you receive a form 1099? Why should you receive a higher hourly rate than if you were issued a W-2 Form (this relates to the self-employment tax of 14.3% based on 7.65% as

Balance of the treasury stock

The stock options had been granted for $12 per share. The cost method is used. What is the balance of the treasury stock on Grant's balance sheet at December 31, 2011?

Reviews

Write a Review

 
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