Valuation of plant assetanbspnimbus inc purchased certain

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Valuation of plant asset.

a. Nimbus Inc purchased certain assets under a deferred payment contract. The agreement was to pay $30,000 per year for 10 years. The plant assets should be valued at

b. On June 30, 2007 Hi-tech Inc purchased for cash at $50 per share all 150,000 shares of outstanding common stock of Ski Craft Company. Ski craft balance sheet at June 30, 2007 showed net assets with a book value of $6,000,000. The fair value of ski craft property, plant and equipment on June 30, 2007 was $800.000 in excess of its book value. What amount if any will Hi-Tech record as goodwill on the date of purchase?

Reference no: EM13356433

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