1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Arte-miy333 [17]
3 years ago
13

On September 1, 2020, Flounder Corporation acquired Shamrock Enterprises for a cash payment of $690,000. At the time of purchase

, Shamrock’s balance sheet showed assets of $650,000, liabilities of $190,000, and owners’ equity of $460,000. The fair value of Shamrock’s assets is estimated to be $770,000.Compute the amount of goodwill acquired by Flounder.
Business
1 answer:
Rama09 [41]3 years ago
3 0

Answer:

$110,000

Explanation:

Net value of assets = Fair value of assets - Fair value of liabilities

                                 =  $770,000 - $190,000

                                 = $580,000

Fair value of goodwill:

= Purchase price - Net value of assets

= $690,000 - $580,000

= $110,000

Therefore, the amount of goodwill acquired by Flounder is $110,000.

You might be interested in
Walmart reduced waste in packaging by 3,500 tons by __________.
mash [69]
Walmart noticed that the packaging in some of their products only led to waste. Based from this observation, Walmart established a new policy requiring its toy suppliers to reduce the packaging of their products by one square-inch. Just from this reduction alone, Walmart's waste from packaging alone decreased by 3,500 tons. 
6 0
3 years ago
A __________ describes the minimum qualifications a person must have to perform the job successfully.
Katena32 [7]
The correct answer here would be a job specification. 
5 0
3 years ago
Joe obtained a box of antique Lenox china dishes that had been left at the town dump. He supplemented the sizeable buy incomplet
dexar [7]

Answer:

The result of  Marlene hiring an attorney to obtain her return would only be successful if she did not voluntarily give up her right to ownership of the plates and can provide an evidence to that effect

Explanation:

The result of  Marlene hiring an attorney to obtain her return would only be successful if M can produce an evidence showing that she did not intentionally dump the plates into the town dump ( i.e. she did not voluntarily give up her right to ownership of the plates ) If not the plates will be transferred to give to Joe under the code name " finders keepers "

8 0
3 years ago
When analyzing stages of economic development in the United States, it appears that we have entered the "tertiary stage." This i
Nastasia [14]

Answer:

C) services.

Explanation:

This is easily explained to be the stepping in to a tertiary stage. As it is explained that economic development analysis stages consists of different phases and levels. This services that is been denoted in this growth in the US plays a key role in financial services, humanity, health and other visible relevant parts which help in the building and aiding of economic growth of a country's economy.

Information technology and educational services in a product offering. These services are seen to boost different parts of an economy especially in developing countries is mostly concentrated in financial services, hospitality, retail, health and human services.

6 0
3 years ago
Rent collected in advance is: Multiple Choice A shareholders' equity account in the balance sheet. A temporary account, not in t
gulaghasi [49]

Answer:

A liability account in the balance sheet.

Explanation:

When rent is collected in advance, the entries required to be recognized at the point of collection is as follows;

Debit Cash account

Credit Unearned/Deferred rental revenue

The cash account is an asset while the Unearned/Deferred rental revenue is a liability account.

As such, the collection of rent in advance is A liability account in the balance sheet.

3 0
3 years ago
Other questions:
  • The benefits of belonging to professional organizations include the development of professional contacts and the opportunity to
    11·2 answers
  • Since he started at american eyeful pictures, inc., david has worked in japan, china, and thailand. the company has probably set
    9·1 answer
  • Maiko lost her job and she was forced to sell a rental property because she did not have other funds​ (liquid, emergency,​ etc)
    10·1 answer
  • Which life insurance policy provision prohibits a beneficiary from "commuting, encumbering, withdrawing, or assigning" any porti
    7·1 answer
  • The three things counselors should listen for are clients' concerns, feelings about the concerns, and​ a. ​ the expectation the
    15·1 answer
  • Seth, Pete, Cara, and Jen form Kingfisher Corporation with the following consideration:Consideration Transferred Basis to Transf
    15·1 answer
  • Geraldine Parker, the owner of Gi Grs Dance Studio, Inc., started the business by investing $10,000 cash and donating a building
    10·1 answer
  • Jane, a stock analyst, is giving a sales presentation to a group of clients. She talks about the various investment options avai
    11·2 answers
  • Alyeska Services Company, a division of a major oil company, provides various services to the operators of the North Slope oil f
    6·1 answer
  • Those who favor greater control of the economy and the social order to bring about greater equality and to regulate the effects
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!