The total purchase price of the stiltz corporation stock

Assignment Help Accounting Basics
Reference no: EM13999248

The Horstmeyer Corporation commenced operations early in 2011. A number of expenditures were made during 2011 that were debited to one account called intangible asset. A recap of the $644,000 balance in this account at the end of 2011 is as follows:

117_254-b-a-i-a--3290--1.png

The total purchase price of the Stiltz Corp. stock was debited to this account. The fair values of Stiltz Corp.'s assets and liabilities on the date of the purchase were as follows:

720_254-B-A-I-A (3290)-2.png

Required:

Prepare the necessary journal entries to clear the intangible asset account and to set up accounts for separate intangible assets, other types of assets, and expenses indicated by the transactions.

Reference no: EM13999248

Questions Cloud

Believe would be most useful to the employees : In an international organization, which HR practice do you believe would be most useful to the employees? Please support your answer.
Stock holders are not guaranteed dividends in the future : For tax purposes a partnership and a corporation are treated in an identical manner
What is the minimum and maximum number of passengers : What is the minimum and maximum number of passengers flown by these carriers and which carriers flew the most and fewest passengers?Are there any outliers in this data set? If you find an outlier, delete it and recalculate the descriptive statistics ..
Determine the speeds of the cars just prior to the impact : After impact the cars become entangled and move as a single unit a distance of 10 m at an angle θ= 60 degree. Determine the speeds of the cars VA and VB just prior to the impact.
The total purchase price of the stiltz corporation stock : Prepare the necessary journal entries to clear the intangible asset account and to set up accounts for separate intangible assets, other types of assets, and expenses indicated by the transactions.
What is maximum speed at which the car can exit highway : The radius of curvature of a highway exit is r = 95.5 m. The surface of the exit road is horizontal, not banked. If the static friction between the tires and the surface of the road is μs = 0.408, then what is the maximum speed at which the car can ..
Briefly describe how this influence on gender identity : How biology, environment, culture, family, peer group, and the media impact gender identity in the U.S. Briefly describe how this influence on gender identity is accomplished
What are the reserve–deposit ratio-currency–deposit ratio : In the economy of Panicia, the monetary base is $1,000. People hold a third of their money in the form of currency (and thus two-thirds as bank deposits). Banks hold a third of their deposits in reserve. What are the reserve–deposit ratio, the curren..
Use the model of the money supply : What would have happened to the money supply if the currency–deposit ratio had risen but the reserve–deposit ratio had remained the same? What would have happened to the money supply if the reserve–deposit ratio had risen but the currency–deposit rat..

Reviews

Write a Review

Accounting Basics Questions & Answers

  Prepare a partial balance sheet for the company at

on december 31 2997 the company has 7m of short term debt inthe form of notes payable to the bank due in 2008. on

  Dtermine the depreciation expense for 2007 under the a

acme company purchased equipment on january 1 2007 at acost of 180000. the equipment is expected to have a useful

  Accounting field and accounting job postings

Use the Internet or the Strayer Online database to research career options within the accounting field and accounting job postings in your local area to respond to the questions in the assignment.

  Evaluate total quality control and make strategic

The Kaizen strategy can be used for an ongoing improvement process and to evaluate total quality control and make strategic management improvements. In this assignment, you will apply your understanding of the Kaizen concept.

  It was estimated at that time that its life would be 40

peloton company constructed a building at a cost of 2856000 and occupied it beginning in january 1993. it was estimated

  During september the capital expenditure budget indicates a

during september the capital expenditure budget indicates a 420000 purchase of equipment. the ending september cash

  What is the total amount of compensation cost

Set up a spread sheet to compute the net pay for each of the above employees. You will need to insert the appropriate excel formulas.

  According to a summary of the payroll of newman publishing

according to a summary of the payroll of newman publishing co. 600000 was subject to the 7.5 fica tax. also 50000 was

  How many shares of common stock

Assume that you own 1,200 shares of $10 par value common stock and the company has a 5 for 1 stock split when the market price per share is $70.

  A commercial storage building in service

A commercial storage building in service.

  Determine and discuss the best way to address

Analyze the special partnership issues and determine which you would be most likely to encounter in the business venture you described above (please feel free to be creative here). Determine and discuss the best way to address the special issue yo..

  A b and c start running simultaneously from the points p q

a b and c start running simultaneously from the points p q and r respectively on a circular track. the distance when

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