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const2013 [10]
4 years ago
14

Cullumber Company’s 12/31/21 balance sheet reports assets of $11450000 and liabilities of $4890000. All of Cullumber’s assets’ b

ook values approximate their fair value, except for land, which has a fair value that is $690000 greater than its book value. On 12/31/21, Egbert Corporation paid $11642000 to acquire Cullumber. What amount of goodwill should Egbert record as a result of this purchase?
Business
1 answer:
Arturiano [62]4 years ago
4 0

Answer:

$4,392,000

Explanation:

For computing the cost of the goodwill, first we have to calculate the fair value of the net asset which is shown below:

The fair value of net asset = Asset balance + fair value of land  - liabilities balance

= $11,450,000 + $690,000 - $4,890,000

= $7,250,000

And, the acquire value is $11,642,000

So, the goodwill would be  

= $11,642,000 - $7,250,000

= $4,392,000

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J.C. Penney of Boston sold office equipment for $12,000 to Lee's of San Diego. Terms of the sale are 3/10, n/30 FOB Boston. J.C.
rjkz [21]

Answer:

$11,940

Explanation:

The computation of the paying amount is shown below:

= Sale value of the equipment - discount charges + freight charges

= $12,000 - $360 + $300

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= Sale value of the equipment × discount rate

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We simply deduct the discount and added the freight charges to the sale value of the equipment so that the actual value could arrive

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4 years ago
Set any Two interview questions that are relevant to the above-mentioned vacancy and outline your roles as the interviewer durin
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Answer:

Role of interviewer during interview, Two interview questions relevant to any vacancies -

Explanation:

Two important questions

  • Introduce yourself : This helps analysing the core personality traits of the candidate, which highlights his suitability or non suitability for the job
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  • Analysing the candidate's personal & professional traits, which are of significance to the job performance
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5 0
3 years ago
When a negative externality exists, the private market produces?
mart [117]
The private market will produce more than the economically efficient output level. Also when there is a negative externality then the cost to producers will be less than the cost to society. Remember that a negative externality is a cost that is suffered by a third party as a result of an economic transaction. Also have in mins that externalities lead to market failure<span> because the price equilibrium </span>does<span> not reflect the true costs and benefits of a product.</span>
4 0
4 years ago
Joe's Mart policy is to have 20% of the next month's sales on hand at the end of the current month. Projected sales for August,
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Answer:

the number of units purchased in September is 33,000 units

Explanation:

The computation of the number of units purchased in September is shown below:

= September sales + desired ending inventory - beginning inventory

= 31,000 + 41,000 × 20% - 31,000 × 20%

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This is the answer but the same is not provided in the given options

hence, the number of units purchased in September is 33,000 units

We simply applied the above formula so that the correct value could come

And, the same is to be considered

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Crystal Ship Knitwear, Inc., is expanding its offerings from handmade winter hats, scarves, and gloves to include clothing such
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Answer: demand forecast

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