Answer:
The goodwill is $9,220
Explanation:
Goodwill is the excess of purchase consideration paid to acquire a business over the fair value of net assets acquired.
Fair value of net assets acquired is the difference between the fair of assets acquired over the fair value of liabilities taken up which is shown below.
Net assets=$89,600-$14,800
Net assets =$74,800
Since purchase consideration paid is $84020
Goodwill=$84,020-$74800
Goodwill=$9,220
The goodwill of $9220 represents the premium paid over the net assets of Catteman's Steakhouse as a compensation to the owners of the business in return for their efforts of running the business and see go through different phases of development since the establishment of the business.
Answer:
Cash, account receivable, equipment, utilities expenses, salaries expense
Explanation:
Normally, the asset and expense accounts have debit balances while the liabilities, equity, revenue and other income accounts have credit balances.
In the given list of account:
Cash, account receivable, equipment belong to asset accounts, therefore will have normal debit balance.
Utilities expenses, salaries expense belong to expense accounts, therefore will have normal debit balance.
Remaining items in a given list will have normal credit balance.
The value of any money is determined by supplys and demands and the supplys and demands for other goods in the economy
Answer:
Gogle, which was derived from a misspelling of Page's original planned name, (a mathematical term for the number one followed by 100 zeroes).
Explanation:
