User Account

All Pages

Calculate total goodwill and its allocation to controlling

Assignment Help Accounting Basics
Reference no: EM132465682

?Penny Corporation acquired 85% of Sawyer Company's common stock for $216,000 in cash on January 1, 2020. At that date, Sawyer had $157,000 of reported net assets (book value). These reported net assets were fairly stated, except land was overvalued by $13,000, unrecorded licensing agreements were valued at $26,000 and unrecorded favorable location was valued at $12,000. The estimated fair value of the noncontrolling interest is $32,000 at the acquisition date.

Question 1: Calculate total goodwill and its allocation to the controlling and noncontrolling interests. You must show your work to receive credit.

Reference no: EM132465682

Questions Cloud

Why the late bronze age collapse happened : You may or may not agree with your assigned topic. Write a paragraph (3-5 good sentences) explaining your personal perspective on why the Late Bronze Age.
What would the hospital expect to get paid from medicaid : The particular patient in question had previously used 25 of his or her annual 30 day of hospital care covered by Medicaid. Based on what has been provided
Describe how the company is governed : Describe how the company is governed. That is, is it a corporation? If so, who do you think the stockholders are? Do they live where you do
Describe unique community practices in brief : Describe 2 unique community practices. Again, "practice" means a communicative behavior that is recognized by members of the community and has a specific.
Calculate total goodwill and its allocation to controlling : Calculate total goodwill and its allocation to the controlling and noncontrolling interests. You must show your work to receive credit.
Understand the costs involved in the type of plan : What steps would you take to better understand the costs involved in the type of plan you choose? Give one example.
Effective communication and delegation : Effective communication and delegation - provides evidence of your development of business and leadership skills; this portfolio will include your reflections.
Calculate the eac for machine : Calculate the EAC for each machine. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answers in dol
Prepare ground rules income statement at october : Determine individually if the above accounts would appear on a balance sheet (B), income statement (I), statement of owner's equity (SOE) or cash flow statement

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determine the present value of the debt

Established a plant addition fund of $490,000 to be available at the end of year eight. In transaction (a), determine the present value of the debt

  What is the total value assigned to the new piece

The new piece of equipment is expected to have a 10 year life and a salvage value of $15,000. What is the total value assigned to the new piece of equipment

  Financial statement impact of liability transactions

(Financial Statement Impact of Liability Transactions) Presented below is a list of possible transactions. 1. Purchased inventory for $80,000 on account (assume perpetual system is used).

  Magic corporation an amusement park is considering a

magic corporation an amusement park is considering a capital investment in a new exhibit. the exhibit would cost 175081

  Prepare the entry to record dillons credit sales

Dillons Corporation made credit sales of $30,000 which are subject to 6% sales tax. The corporation also made cash sales which totaled $20,670 including the 6% sales tax.

  Your comments require in this regard whether sitara textile

scenariositara textile is one of the renowned textile companies in pakistan. it has a strong supply chain network of

  Determine the number of common shares issued

Determine the number of common shares (a) issued, (b) in treasury, and (c) outstanding at the end of 2013.

  How do sales personnel help formulate the budget

Sales Personnel and Budgeting The sales budget is the foundation of the entire master budget. How do sales personnel help formulate the budget?

  Prepare the journal entries related to the bonds

Prepare the journal entries related to the bonds the Bloomington made for the period April 1, 2014 through December 31, 2015

  How much goodwill did server solutions purchase

The fair market value of its liabilities was $100,000. How much goodwill did Server Solutions purchase as part of the acquisition of Tabletz

  An addition to the bank balance

An addition to the bank balance

  Compute the total cost transferred out during the month

Assume that the company uses the weighted-average cost method. Compute the following: The cost per equivalent unit for conversion for the month

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