User Account

All Pages

What is the amount of goodwill resulting from the business

Assignment Help Finance Basics
Reference no: EM131132332

On April 1, 20X1, Paape Company paid $950,000 for all the issued and outstanding stock of Simon Corporation. The recorded assets and liabilities of the Simon Corporation on April 1, 20X1, follow:

Cash .......................................... $ 80,000

Inventory ..................................... 240,000

Property and equipment (net of accumulated depreciation of $320,000) .......480, 000

Liabilities ...............................(180,000)

On April 1, 20X1, it was determined that the inventory of Simon had a fair value of $190,000, and the property and equipment (net) had a fair value of $560,000.

What is the amount of goodwill resulting from the business combination? (Points: 10) 

$0 $120,000 $300,000 $230,000

Reference no: EM131132332

Questions Cloud

Difficulties on the western and eastern fronts : Discuss the course and the outcome of World War I. What were the major difficulties on the Western and Eastern Fronts? What do we mean by trench warfare
Outbreak of a major war : Discuss how the international system at the turn of the 20th century was poised for the outbreak of a major war. What if naything could be done to prevent the conflict?
Discuss bismarkian system that ensured peace in europe : Discuss Bismarkian system that ensured peace in Europe after unification of Germany. What were its basic principles and flaws? Was it the right decision to dismiss the system after Bismark's retirement?
What was the cause fo the 1848 revolution in france : What was the cause and outcome fo the 1848 Revolution in France? How and why was it defeated? Describe Louis Napoleon Bonaparte as a politician. How do you explain the concept of Bonapartism in politics?
What is the amount of goodwill resulting from the business : On April 1, 20X1, it was determined that the inventory of Simon had a fair value of $190,000, and the property and equipment (net) had a fair value of $560,000. What is the amount of goodwill resulting from the business combination?
How you would handle the situations with integrity : Research cybercrime, workplace privacy, and free speech on social media, and create a presentation that addresses how you would (will) handle these situations with integrity.
Discuss the tenets of the treaty of versaille : Discuss the tenets of the Treaty of Versaille and how they failed to bring lasting peace to Europe and the world? Why did German people reject the Peace Treaty and proceed with building popular resistance that led to the rise of Nazis?
Practice of indulgences by the roman catholic church : What was the theological belief that helped develop Martin Luther's main objection to the practice of indulgences by the Roman Catholic Church?
How to obtain the confidence interval : Suppose you obtain α^ and Var^(α^). Describe how to obtain the confidence interval at the 90% confidence level for α

Reviews

Write a Review

Finance Basics Questions & Answers

  Accounting reporting criteria comparision

Prepare a 700 word paper, in which you compare and contrast the accounting reporting criteria (regulatory environment, issues with foreign currency, differences in GAAP, etc.) of a U.S. company with a foreign company.

  Compute the earnings before interest and taxes

Compute the earnings before interest and taxes (EBIT) for each level of sales. Compute the earnings per share (EPS) for each level of sales, the expected EPS, the standard deviation of the EPS, and the coefficient of variation of EPS, assuming that t..

  Use the 0.05 significance level

Does the data suggest that it takes longer for the Youngsville Department to respond? Use the 0.05 significance level. State your work in the 5-step hypothesis test.

  What are financial intermediaries

What are financial intermediaries, and what economic functions do they perform?

  The entertainment system vendor has offered to finance the

the adam limousine company wants to purchase a car entertainment system for one of its automobiles. the entertainment

  You can find financial statements and annual reports

you can find financial statements and annual reports directly on the websites of listedpublic companies. there are also

  Discuss the possibility of a not-for-profit health care

Discuss the possibility of a not-for-profit health care organization issuing stock and why the management of such an organization might want to do this. Explain your rationale.

  Research the variables that impact the pricing of options

Research the variables that impact the pricing of options. Focus your energy on comparingthe attributes of the two widely accepted models used for option pricing: Black-Scholes and Binomial Models. Your paper should be completed in Word and be no les..

  Would you recognize the interest and principal payments

Suppose you finance a project partly with debt. You should neither subtract the debt proceeds from the required investment, nor would you recognize the interest and principal payments on the debt as cash outflows.

  What is the total amount withdrawn

If this plan is followed for 10 years, how much should the monthly contributions be for the next 28 years in order to be able to withdraw, 10,000 at the end of each month from the account for the next 25 years. what is the total amount contributed..

  Determine the expected return for securities with maturities

Using the expectations hypothesis theory for the term structure of interest rates, determine the expected return for securities with maturities of two, three, and four years based on the following data.

  Explain what was the markets reaction

Explain what was the market's reaction to the self-reported earnings announcement and briefly examine the reported earnings per share; what is the company's earnings outlook for the coming year?

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