If you give me wrong answer this accounting question I will give you unhelpful rate ABC buys a smaller company XYZ for a negotiated priceof 1 million. XYZ's assets are valued at 750,000 pounds.Assuming goodwill is amortized over 5 years, what isthe value of goodwill in ABC's Statement of FinancialPosition at the end of the third year after acquisition?

Step 1: Define Intangible AssetsThe intangible assets are those assets that do not have any physical…

Answered: ABC buys a smaller company XYZ for a…

Principles of Accounting Volume 1

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Chapter11: Long-term Assets

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Problem 10PA: Buchanan Imports purchased McLaren Corporation for $5,000,000 cash when McLaren had net assets worth...

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On January 1, 2024, Jackson purchased ABC Company for $900,000. At the time, ABC Company had assets with a market value of $320,000 and liabilities with a market value of $100,000. What is the amount of goodwill Jackson should report on January 1, 2024? O $220,000 $480.000 $680,000 O $420,000
Brinker International Inc.the parent of Chili's, acquired Thallicious for $32,170,000. The fair value of all Thailicioustangible and intangible assets was $30.000.000 Brinker will amortize any goodwill over the maximum number of years allowedWhat is the annual amortization of goodwill for this acquisition?
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Short Corporation acquired Hathaway, Inc., for $32,620,000. The fair value of all Hathaway's identifiable tangible and intangible assets was $31,800,000. Short will amortize any goodwill over the maximum number of years allowed. What is the annual amortization of goodwill for this acquisition?
Blue sky company’s balance sheet dated 12/31/2020 reports 6 million And assets in 2.4 million in liabilities book values for all the firms assets, approximate their fair values except for land which has the book value that is 360,000 lower than it’s fair value on December 31 Horatio corporation pay 6.12 million to acquire blue sky as a result of the purchase, Horacio should record a Goodwill amount of. please give me answer fast
September 1, 2020, Winans Corporation acquired Aumont Enterprises for a cash payment of $700,000. At the time of purchase, Aumont's balance sheet showed assets of $620,000, liabilities of $200,000, and owners' equity of $420,000. The fair value of Aumont's assets is estimated to be $800,000. Compute the amount of goodwill recorded by Winans in the acquisition.
Adams, Inc., acquires Clay Corporation on January 1, 2020, in exchange for $713,300 cash. Immediately after the acquisition, the two companies have the following account balances. Clay’s equipment (with a five-year remaining life) is actually worth $641,000. Credit balances are indicated by parentheses. Adams Clay Current assets $ 382,000 $ 272,000 Investment in Clay 713,300 0 Equipment 837,000 584,000 Liabilities (202,000 ) (224,000 ) Common stock (350,000 ) (150,000 ) Retained earnings, 1/1/20 (1,380,300 ) (482,000 ) In 2020, Clay earns a net income of $74,100 and declares and pays a $5,000 cash dividend. In 2020, Adams reports net income from its own operations (exclusive of any income from Clay) of $160,000 and declares no dividends. At the end of 2021, selected account balances for the two companies are as follows: Adams Clay Revenues $ (544,000 ) $ (286,000 ) Expenses 394,400 214,500 Investment…
Adams, Inc., acquires Clay Corporation on January 1, 2020, in exchange for $713,300 cash. Immediately after the acquisition, the two companies have the following account balances. Clay’s equipment (with a five-year remaining life) is actually worth $641,000. Credit balances are indicated by parentheses. Adams Clay Current assets $ 382,000 $ 272,000 Investment in Clay 713,300 0 Equipment 837,000 584,000 Liabilities (202,000 ) (224,000 ) Common stock (350,000 ) (150,000 ) Retained earnings, 1/1/20 (1,380,300 ) (482,000 ) In 2020, Clay earns a net income of $74,100 and declares and pays a $5,000 cash dividend. In 2020, Adams reports net income from its own operations (exclusive of any income from Clay) of $160,000 and declares no dividends. At the end of 2021, selected account balances for the two companies are as follows: Adams Clay Revenues $ (544,000 ) $ (286,000 ) Expenses 394,400 214,500 Investment…
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On September 1, 2019, Winans Corporation acquired Aumont Enterprises for a cash payment of £800,000. At the time of purchase, Aumont’s statement of financial position showed assets of £600,000, liabilities of £200,000, and equity of £400,000. The fair value of Aumont’s assets is estimated to be £800,000. Compute the amount of goodwill acquired by Winans.
Star Company expects to sell Division S next year. Division S meets the criteria to be a component unit of Star Company. At the end of this year, Star Company estimates the fair value of Division S at $320,000, and the net book value of Division S is $280,000. Based on the information, what is Star Company's pretax gain (loss) on the held-for-sale component? a. $320,000 gain b. $40,000 gain c. $40,000 loss d. $320,000 loss

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ABC buys a smaller company XYZ for a negotiated price of 1 million. XYZ's assets are valued at 750,000 pounds. Assuming goodwill is amortized over 5 years, what is the value of goodwill in ABC's Statement of Financial Position at the end of the third year after acquisition?