User Account

All Pages

Fresh cut corporation purchased all the outstanding common

Assignment Help Accounting Basics
Reference no: EM13592285

Fresh Cut Corporation purchased all the outstanding common stock of Premium Meats for $12,600,000 in cash. The book value of Premium Meats' net assets (assets minus liabilities) was $7,958,000. The book values and fair values of Premium Meats' assets and liabilities were:

  • Book Value Fair Value
  • Receivables $ 1,400,000 $ 1,300,000
  • Property, plant, and equipment 8,000,000 9,400,000
  • Intangible assets 208,000 1,200,000
  • Liabilities (1,650,000) (2,000,000)
  • Net assets $ 7,958,000 $ 9,900,000

Calculate the amount Fresh Cut paid for goodwill?

Reference no: EM13592285

Questions Cloud

bubbas crawfish processing company uses a traditional : bubbas crawfish processing company uses a traditional overhead allocation based on direct labor hours. for the current
A company established a direct material standard of 2 : a company established a direct material standard of 2 pounds of material at a cost of 6 per pound for unit produced.
It is important to have performance measures to evaluate : it is important to have performance measures to evaluate managers as they control resources and invest in assets for
On november 1 2010 wenger co paid its landlord 25200 in : on november 1 2010 wenger co. paid its landlord 25200 in cash as an advance rent payment on its store location. the
Fresh cut corporation purchased all the outstanding common : fresh cut corporation purchased all the outstanding common stock of premium meats for 12600000 in cash. the book value
Should be on 2012 forms and done in pencil it should : should be on 2012 forms and done in pencil. it should include a schedule that shows the fiduciary income calculation
What are the distinguishing characteristics of these types : what are the distinguishing characteristics of these types of stock- describe any one of them. what is the difference
A manufacturing concern follows the practice of charging : a manufacturing concern follows the practice of charging the cost of direct materials and direct labor to work in
What is the angle of depression from the top of the tower : a cellular telephone tower that is 150 feet tall is placed on top of a mountain that is 1200 feet above the sea level.

Reviews

Write a Review

Accounting Basics Questions & Answers

  On may 1 2007 logan co issued 300000 of 7 bonds at 103

on may 1 2007 logan co. issued 300000 of 7 bonds at 103 which are due on april 30 2017. twenty detachable stock

  Describe the types and payment patterns of notes provide

explain the types and payment patterns of notes. provide examples of current types of

  Laserwords inc is a book distributor that had been

laserwords inc. is a book distributor that had been operating is its original facility since 1985. the increase in

  Question regarding increased productivity

A company that makes shopping carts for supermarkets and other stores recently purchased some new equipment that reduces the labor content of the jobs needed to produce the shopping carts.

  Possession of the purse and its contents

Assuming Jackie never returns to claim the purse, who gets possession of the purse and its contents, assuming the purse is (a) lost, (b) mislaid, or (c) abandoned?

  Murphy mining company recently purchased a quartz mine

Murphy Mining Company recently purchased a quartz mine that it intends to work for the next 10 years. According to state environmental laws, Murphy must restore the mine site to its original natural prairie state after it ceases mining operatio..

  Prepare a properly classified balance sheet

Prepare a properly classified balance sheet for the Green Manufacturing Company on December 31, 2007. List the additional parenthetical or note disclosures (if any) that should be made for each item. Compute the working capital and the current rat..

  For the following taxpayers compute 1 taxable income and 2

for the following taxpayers compute 1 taxable income and 2 the income tax liability.be sure to include the new medicare

  Big company buys 10 percent of little company for 200000

big company buys 10 percent of little company for 200000 and has the ability to assert significant influence over

  Computing the incremental net income

Starr Company has already manufactured 50,000 units of Product A at a cost of $50 per unit. The 50,000 units can be sold at this stage for $1,250,000. Calculate the Incremental Net Income if processed further.

  Ann terrell invests 1497380 now for a series of 2000 annual

ann terrell invests 14973.80 now for a series of 2000 annual returns payments beginning one year from now. ann will

  Compute the gross profit for the period

Third purchase $85. If the company sold two units for a total of $240 and used FIFO costing, the gross profit for the period would be?

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