Compute the amount of goodwill acquired by winans

Assignment Help Accounting Basics
Reference no: EM131817529

Question - On September 1, 2010, Winans Corporation acquired Aumont Enterprises for a cash payment of $680,960. At the time of purchase, Aumont's balance sheet showed assets of $611,060, liabilities of $213,800, and owners' equity of $397,260. The fair value of Aumont's assets is estimated to be $816,210. Compute the amount of goodwill acquired by Winans.

Reference no: EM131817529

Questions Cloud

Make waters journal entry to record impairment of goodwill : The fair value of the division is estimated to be $2,093,700. Prepare Waters's journal entry, if necessary, to record impairment of the goodwill
Analyze and evaluate the cockpit automation : Then analyze and evaluate the cockpit automation - human interaction issues that were present in the cockpit prior to the accident.
Estimate the proportion of all listeners of loud music : Explain why we cannot use this information to estimate the proportion of all listeners of loud music who would suffer from collapsed lungs.
Discuss the impact ethics plays in policing : Discuss the impact ethics plays in policing. Is proper ethical training important, why or why not?
Compute the amount of goodwill acquired by winans : The fair value of Aumont's assets is estimated to be $816,210. Compute the amount of goodwill acquired by Winans
Profiling reports should be allowed into court : Discuss with classmates some of the reasons "why" an expert may not be allowed to testify about a profiling report. Do you believe that profiling reports
Statements is true regarding debt ratios : Which of the following statements is true regarding debt ratios? A firm's net income as reported on its income statement is known as _____.
Distribution of birth weights : Birth weights of babies in Guatemala were found to have mean 2,860 grams and standard deviation 440 grams.
Paper on challenges for criminal justice administrators : Select a functional role in one of the three major areas of criminal justice administration--police, courts, or corrections.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Discuss the basis of direct labor-hours

Baker Corporation applies manufacturing overhead on the basis of direct labor-hours

  Why are paid-in-capital and retained earnings displayed

Why are paid-in-capital and retained earnings displayed separately in the stockholder's equity section of the balance sheet? Why would investors buy common stock when preferred stock is available?

  What amount of drawings was made

Net income is $29,000. Beginning capital balance was $34,000. Ending capital balance was $55,000. No capital contributions were made by the owner during the year. What amount of drawings was made?

  Brooks co. purchases various investments in trading

Brooks Co. purchases various investments in trading securities at a cost of $ 66,000 on December 27, 2013. (This is its first and only purchase of such securities.) At December 31, 2013, these securities had a fair value of $ 72,000.

  Discuss how the knowledge is applicable

Find a recent journal article (publication date between 2013 - current) about absorption and/or variable costing

  Prepare the entry to record the redemption of the bonds

Prater Corporation issued $400,000 of 10-year bonds at a discount. Prepare the entry to record the redemption of the bonds

  Assume that simple co had credit sales of 286000 and cost

assume that simple co. had credit sales of 286000 and cost of goods sold of 134000 for the period. simple uses the

  What is the consolidated balance for the equipment account

willkom corporation bought 100 percent of szabo inc. on january 1 2009 at a price in excess of the subsidiarys fair

  How many units are in ending work in process inventory

How many units are in ending work in process inventory in the first processing department at the end of the month

  What is the ending balance of plan assets

Brunson Corporation pension plan Information for current fiscal year -What is the ending balance of plan assets? What is the ending balance of the PBO

  What are the advantages of the alternate costing system

What are the advantages of the alternate costing system. What is the potential ethical dilemma facing the management accountant in this scenario

  Compute the npv of the investment

Compute the NPV of the investment. Compare this with the present value of the profit computed in Requirement 1.

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