Acme inc paid 30000000 to purchase arthur ltd at the dateof

Assignment Help Accounting Basics
Reference no: EM13611103

ACME, Inc. paid $30,000,000 to purchase Arthur, Ltd. At the dateof purchase, Arthur, Ltd. had assets with a current market value of$50,000,000 and liabilities with a current market value of$26,000,000.

a.Determine the amount of goodwill ACME, Inc., should report as aresult of the purchase.

b.How should ACME, Inc., report the goodwill in its financialstatements?

Reference no: EM13611103

Questions Cloud

If each string is 300 cm long what is the magnitude of the : two small metallic spheres each of mass 0.20 g are suspended as pendulums by light strings from a common point as shown
Production and cash-outlay computations rpr inc anticipates : production and cash-outlay computations rpr inc. anticipates that 120000 units of product k will be sold during may.
Leach company invested 80000 in a certificate of deposit : leach company invested 80000 in a certificate of deposit onjune 1 2008. the certificate had a 6 annual interest rate
Determine the magnitudes of the velocity v and acceleration : the rectangular plate is rorating about its corner axis through o with a constant angular velocity omega 10 rads.
Acme inc paid 30000000 to purchase arthur ltd at the dateof : acme inc. paid 30000000 to purchase arthur ltd. at the dateof purchase arthur ltd. had assets with a current market
Schedule of cash collections sugarland company sells a : schedule of cash collections sugarland company sells a single product and anticipates opening a new facility in
The triangular plate rotates about a fixed axis through : the triangular plate rotates about a fixed axis through point o with the angular properties indicated determine the
The free cash flow to the firm is 300 million in : the free cash flow to the firm is 300 million in perpetuity the cost of equity equals 14 and the wacc is 10. if the
In 2007 bauxite mining company purchased a bauxite mine : in 2007 bauxite mining company purchased a bauxite mine for9000000. at the time of purchase bauxite estimated that

Reviews

Write a Review

Accounting Basics Questions & Answers

  Prepare the adjusting entry to show the securities at fair

on december 31 2011 walden owned the following securities that are held as a long-term investment. the securities are

  What are the total period costs incurred this period

What are the total Period Costs incurred this period?

  Cardinals corporation had a 1114 balance in the allowance

cardinals corporation had a 1114 balance in the allowance for doubtful accounts of 20000. during 2014 it wrote off

  Total proceeds of the bond issue at the time of sale

The bonds were quoted at 94 and pay interest quarterly on September 30th and December 31st. What were the total proceeds of the bond issue at the time of sale?

  Competing capital investment proposals

The following data are accumulated by Eco-Labs, Inc. in evaluating two competing capital investment proposals:

  Fairgrounds adequate to handle crowds to generate tickets

Are the facilities at the fairgrounds adequate to handle crowds needed to generate ticket revenues calculated in number 8 above to earn a $6,000 profit? Show calculations to support your answers.

  Variable overhead efficiency variance

The budgeted supplies cost is $6.20 per machine-hour. The actual supplies cost for the month was $234,614. The variable overhead efficiency variance for supplies cost is ?

  Schefter mining operates a copper mine in wyoming

schefter mining operates a copper mine in wyoming. acquisition exploration and development costs totaled 8.2 million.

  On february 16 a company declares a 41acirccent dividend to

on february 16 a company declares a 41acirccent dividend to be paid on april 5. there are 2.07 million shares of common

  On january 1 2014 ballard company spent 12000 on an asset

on january 1 2014 ballard company spent 12000 on an asset to improve its quality. the asset had been purchased on

  On april 1 2012 prince company assigns 500000 of its

on april 1 2012 prince company assigns 500000 of its accounts receivable to the third national bank as collateral for a

  Ollies olive oil began business in 2010 during which it

ollies olive oil began business in 2010 during which it produced 104000 quarts of olive oil. in 2010 the company sold

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