User Account

All Pages

How much is the total goodwill to be recorded by partnership

Assignment Help Accounting Basics
Reference no: EM132543083

Question - Foot and Shoe organize a partnership and agree both will begin with equal capital balances. Foot contributes fixed assets with a fair value of $80,000. Shoe contributes inventory with a fair value of $30,000 and his expertise. It is decided that they will use the goodwill method to account for the partners' capital. How much is the total goodwill to be recorded by the partnership.

a. 0

b. $20,000

c. $50,000

d. $60,000

e. $100,000

Reference no: EM132543083

Questions Cloud

How much will each receive : As the partnership has no remaining liabilities. Which partner(s) can receive that money now and how much will each receive
Alternative minimum tax : Explain in your own words the alternative minimum tax (AMT) and include in your definition: why was it implemented by the IRS,
Calculate the ionization constant : Calculate the ionization constant for each of the following acids or bases from the ionization constant of its conjugate base or conjugate acid:
Prepare a responsibility report for january : The Mixing Department manager,What would be the likely result of management's analysis of the report? Prepare a responsibility report for January 2010.
How much is the total goodwill to be recorded by partnership : Shoe contributes inventory with a fair value of $30,000 and his expertise. How much is the total goodwill to be recorded by partnership
What would be the minimum transfer price : What would be the minimum transfer price they should be willing to accept assuming there would be no impact to their fixed cost
Sample test of hypothesis or analysis of variance : How would you apply the output from either a one-sample or two-sample test of hypothesis or Analysis of Variance (ANOVA) to solve a business problem?
Is ethical to build slack into a budget and explain : Was it ethical for Mr. Payne to refuse to accept a budget without slack? Briefly explain. Is it ethical to build slack into a budget? Explain
What is the price per unit : What is the price per unit after further processing that would make the company indifferent between process further and sell at split-off point

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd