All categories

3 years ago

define Goodwill......... should it be considered as an asset and State the reason why it is controversial in a business today

1 answer:

8 0

Answer:established reputation of a business regarded as a quantifiable asset and calculated as part of its value when it is sold.

Explanation:if Company A buys Company B for more than the fair value of Company B's assets and debts, the amount left over is listed on Company A's balance sheet as goodwill.

You might be interested in

Berman & Jaccor Corporation's current sales and partial balance sheet are shown below.

blsea [12.9K]

Sorry but this is kind of confusing but can you plz help me with this math problem

Santa is trying to buy socks for all his elf helping the year. He went on Amazon and found a pack of 8 socks for $24. He wants to know what each socks cost to be able to write an equation, and later he wants to know how much 12 socks with cost him.

I need the Ratio, Unit Rate, C.O.P. And an equation

4 0

3 years ago

Read 2 more answers

In April, Holderness Inc, a merchandising company, had sales of $251,000, selling expenses of $17,000, and administrative expens

Rainbow [258]

Answer:

The net income is $59,000

Explanation:

Please refer to the attached file for calculation.

3 0

4 years ago

Duluth Co. collected a $6,000 cash advance from a customer on November 1, 2016 for work to be performed over a six-month period

uysha [10]

Answer:

c. Decrease liabilities and increase revenues.

Explanation:

Duluth Co. collected a $6,000 cash advance from a customer on November 1, 2016 for work to be performed over a six-month period beginning on that date.

If the year-end adjustment is properly recorded, the effect of the adjusting entry on Duluth's 2016 financial statements will be a decrease in liabilities and increase in revenues.

This will be the case because when Duluth Co. collected a $6,000 cash advance from a customer on November 1, it would have passed the following entries:

Dr Cash................$6000

Cr Prepaid Revenue...$6000

But note that 'prepaid revenue' is a liability which is why it has a credit balance.

By year end, the adjustment will be to take credit to revenue for 2 months that has elapsed for November and December, which is 2/6 x $6000.

Hence the entry will be:

Dr. Prepaid Revenue.....$2000

Cr. Revenue....................................$2000

which implies that the liability of prepaid revenue has reduced and revenue has increased

4 0

3 years ago

When asked "How much should I borrow in student loans?" the CFPB (Consumer Financial Protection Bureau) said this.

devlian [24]

<span>The Consumer Financial Protection Bureau, CFPB, believes your main goal should be not to accumulate more total student debt than you expect to earn as a starting salary once you leave school. Though your first year you won't be required to pay back every dollar you make to the government in loans, it helps when estimating how much you are going to be making and how much debt you wish to accrue.
</span>

4 0

4 years ago

On January 1, Kirk Corporation had total assets of $425,000. During the month, the following activities occurred: Kirk Corporati

nadya68 [22]

Answer:

$428,000

Explanation:

The only movement that impact the total assets it's:

Kirk Corporation acquired equipment costing $3,000, promising to pay cash for it in 60 days.

Due to the equipment was finance by the supplier by 60 days it has a positive impact on assets and liabilities.

The others transactions:

Kirk Corporation purchased $1,750 of supplies for cash, it has no impact because the supplies was paid with cash, so the impact on assets is zero.
The land had cost $7,500 and it was sold for $7,500 cash. The land it's a long term assets that was sold for cash, so it was converted to current assets in money.
Kirk Corporation signed an agreement, the impact it's in the next month, so it has no impact the current month analized.

3 0

4 years ago

define Goodwill......... should it be considered as an asset and State the reason why it is controversial in a business today​

define Goodwill......... should it be considered as an asset and State the reason why it is controversial in a business today