Goodwill is the excess payment made over and above the fair value of assets acquired by the parent company to the subsidiary company against the assets and liabilities acquired. Goodwill that needs to be reported in the financial statement after the combination and the amount at which the Public will record its investment in Sif the amount paid by the Public is $ 310 , 000 .

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Answer 1

Question

Chapter 1, Problem 1.9E

a.

To determine

Concept Introduction:

Goodwill is the excess payment made over and above the fair value of assets acquired by the parent company to the subsidiary company against the assets and liabilities acquired.

Goodwill that needs to be reported in the financial statement after the combination and the amount at which the Public will record its investment in Sif the amount paid by the Public is $310,000 .

b.

To determine

Concept Introduction:

Goodwill is the excess payment made over and above the fair value of assets acquired by the parent company to the subsidiary company against the assets and liabilities acquired.

Goodwill that needs to be reported in the financial statement after the combination and the amount at which the Public will record its investment in S if the amount paid by the Public is $196,000 .

c.

To determine

Concept Introduction:

Goodwill: It is the excess payment made over and above the fair value of assets acquired by the parent company to the subsidiary company against the assets and liabilities acquired.

Goodwill that needs to be reported in the financial statement after the combination and the amount at which the Public will record its investment in S if the amount paid by the Public is $150,000 .

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Students have asked these similar questions

How much is the cost of investment? how much is the goodwill to be reported on January 31, 2022?

Accounting On January 1, 20X1, Porta Corporation purchased Swick Company's net assets and assigned goodwill of $81,500 to Reporting Division K. The following assets and liabilities are assigned to Reporting Division K on the acquisition date: Carrying Fair Amount Value Cash 15,500 $ 15,500 Inventory 57,500 72,500 Equipment 185,000 205,000 Goodwill 81,500 Accounts 31,500 31,500 Payable Required: On December 31, 20X3, Porta must test goodwill for impairment. Determine the amount of goodwill to be reported for Division K and the amount of goodwill impairment to be recognized, if any, if Division K's fair value is determined to be $355,000. $295,000. $275,000.

The general ledger of Grumpy Corporation as of December 31, 2021, includes the following accounts: Copyrights Deposits with advertising agency (will be used to promote goodwill) 27,000 Discount on bonds payable Excess of cost over fair value of identifiable net assets of acquired subsidiary Trademarks P30,000 70,000 90,000 90,000 In the preparation of Grumpy's balance sheet as of December 31, 2021, what should be reported as total intangible assets?

Answer 2

Question

Chapter 1, Problem 1.9E

a.

To determine

Concept Introduction:

Goodwill is the excess payment made over and above the fair value of assets acquired by the parent company to the subsidiary company against the assets and liabilities acquired.

Goodwill that needs to be reported in the financial statement after the combination and the amount at which the Public will record its investment in Sif the amount paid by the Public is $310,000 .

b.

To determine

Concept Introduction:

Goodwill is the excess payment made over and above the fair value of assets acquired by the parent company to the subsidiary company against the assets and liabilities acquired.

Goodwill that needs to be reported in the financial statement after the combination and the amount at which the Public will record its investment in S if the amount paid by the Public is $196,000 .

c.

To determine

Concept Introduction:

Goodwill: It is the excess payment made over and above the fair value of assets acquired by the parent company to the subsidiary company against the assets and liabilities acquired.

Goodwill that needs to be reported in the financial statement after the combination and the amount at which the Public will record its investment in S if the amount paid by the Public is $150,000 .

Expert Solution & Answer

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Answer 3

Question

Chapter 1, Problem 1.9E

a.

To determine

Concept Introduction:

Goodwill is the excess payment made over and above the fair value of assets acquired by the parent company to the subsidiary company against the assets and liabilities acquired.

Goodwill that needs to be reported in the financial statement after the combination and the amount at which the Public will record its investment in Sif the amount paid by the Public is $310,000 .

b.

To determine

Concept Introduction:

Goodwill is the excess payment made over and above the fair value of assets acquired by the parent company to the subsidiary company against the assets and liabilities acquired.

Goodwill that needs to be reported in the financial statement after the combination and the amount at which the Public will record its investment in S if the amount paid by the Public is $196,000 .

c.

To determine

Concept Introduction:

Goodwill: It is the excess payment made over and above the fair value of assets acquired by the parent company to the subsidiary company against the assets and liabilities acquired.

Goodwill that needs to be reported in the financial statement after the combination and the amount at which the Public will record its investment in S if the amount paid by the Public is $150,000 .

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Answer 4

Question

Chapter 1, Problem 1.9E

a.

To determine

Concept Introduction:

Goodwill is the excess payment made over and above the fair value of assets acquired by the parent company to the subsidiary company against the assets and liabilities acquired.

Goodwill that needs to be reported in the financial statement after the combination and the amount at which the Public will record its investment in Sif the amount paid by the Public is $310,000 .

b.

To determine

Concept Introduction:

Goodwill is the excess payment made over and above the fair value of assets acquired by the parent company to the subsidiary company against the assets and liabilities acquired.

Goodwill that needs to be reported in the financial statement after the combination and the amount at which the Public will record its investment in S if the amount paid by the Public is $196,000 .

c.

To determine

Concept Introduction:

Goodwill: It is the excess payment made over and above the fair value of assets acquired by the parent company to the subsidiary company against the assets and liabilities acquired.

Goodwill that needs to be reported in the financial statement after the combination and the amount at which the Public will record its investment in S if the amount paid by the Public is $150,000 .

Expert Solution & Answer

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Answer 5

Chapter 1, Problem 1.9E

a.

To determine

Concept Introduction:

Goodwill is the excess payment made over and above the fair value of assets acquired by the parent company to the subsidiary company against the assets and liabilities acquired.

Goodwill that needs to be reported in the financial statement after the combination and the amount at which the Public will record its investment in Sif the amount paid by the Public is $310,000 .

b.

To determine

Concept Introduction:

Goodwill is the excess payment made over and above the fair value of assets acquired by the parent company to the subsidiary company against the assets and liabilities acquired.

Goodwill that needs to be reported in the financial statement after the combination and the amount at which the Public will record its investment in S if the amount paid by the Public is $196,000 .

c.

To determine

Concept Introduction:

Goodwill: It is the excess payment made over and above the fair value of assets acquired by the parent company to the subsidiary company against the assets and liabilities acquired.

Goodwill that needs to be reported in the financial statement after the combination and the amount at which the Public will record its investment in S if the amount paid by the Public is $150,000 .

Answer 6

Chapter 1, Problem 1.9E

a.

To determine

Concept Introduction:

Goodwill is the excess payment made over and above the fair value of assets acquired by the parent company to the subsidiary company against the assets and liabilities acquired.

Goodwill that needs to be reported in the financial statement after the combination and the amount at which the Public will record its investment in Sif the amount paid by the Public is $310,000 .

Answer 7

Chapter 1, Problem 1.9E

a.

To determine

Concept Introduction:

Goodwill is the excess payment made over and above the fair value of assets acquired by the parent company to the subsidiary company against the assets and liabilities acquired.

Goodwill that needs to be reported in the financial statement after the combination and the amount at which the Public will record its investment in Sif the amount paid by the Public is $310,000 .

Answer 8

b.

To determine

Concept Introduction:

Goodwill is the excess payment made over and above the fair value of assets acquired by the parent company to the subsidiary company against the assets and liabilities acquired.

Goodwill that needs to be reported in the financial statement after the combination and the amount at which the Public will record its investment in S if the amount paid by the Public is $196,000 .

Answer 9

b.

To determine

Concept Introduction:

Goodwill is the excess payment made over and above the fair value of assets acquired by the parent company to the subsidiary company against the assets and liabilities acquired.

Goodwill that needs to be reported in the financial statement after the combination and the amount at which the Public will record its investment in S if the amount paid by the Public is $196,000 .

Answer 10

c.

To determine

Concept Introduction:

Goodwill: It is the excess payment made over and above the fair value of assets acquired by the parent company to the subsidiary company against the assets and liabilities acquired.

Goodwill that needs to be reported in the financial statement after the combination and the amount at which the Public will record its investment in S if the amount paid by the Public is $150,000 .

Answer 11

c.

To determine

Concept Introduction:

Goodwill: It is the excess payment made over and above the fair value of assets acquired by the parent company to the subsidiary company against the assets and liabilities acquired.

Goodwill that needs to be reported in the financial statement after the combination and the amount at which the Public will record its investment in S if the amount paid by the Public is $150,000 .

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 1 - What types of circumstances would encourage...Ch. 1 - How would the decision to dispose of a segment of...Ch. 1 - Prob. 1.3Q Ch. 1 - Prob. 1.4Q Ch. 1 - Prob. 1.5Q Ch. 1 - Prob. 1.6Q Ch. 1 - Prob. 1.7Q Ch. 1 - Prob. 1.8Q Ch. 1 - Prob. 1.9Q Ch. 1 - Prob. 1.10Q

Solution Summary: The author explains that goodwill is the excess payment made over and above the fair value of assets acquired by the parent company to the subsidiary company against the assets and liabilities acquired.

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