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
Talja [164]
3 years ago
11

The balance sheet of Cattleman's Steakhouse shows assets of $86,000 and liabilities of $14,400. The fair value of the assets is

$89,400 and the fair value of its liabilities is $14,400. Longhorn paid Cattleman's $82,920 to acquire all of its assets and liabilities. Longhorn should record goodwill on this purchase of:
Business
1 answer:
anygoal [31]3 years ago
5 0

Answer:

The goodwill is $7,320

Explanation:

It is given that fair value of assets is $89,400 and fair value of liabilities is $14,400

Fair value difference = Fair value of assets - Fair value of liabilities

Fair value difference = $89,400 - $14,400

Fair value difference = $75,000

Hence, the fair value difference is $75,000

It is given that acquisition price is $82,920  and calculated fair value difference is $75,600. Calculation of goodwill is given below

Goodwill = Acquisition price - Fair value difference

Goodwill = $82,920 - $75,600

Goodwill = $7,320

Hence, the goodwill is $7,320.

You might be interested in
An organization needs to keep determined intruders away from its facility. the organization should install:
Ostrovityanka [42]
Cameras barbed wire electric fence depends on the situation but mainly a security system
7 0
3 years ago
When $45,000 of goods are completed in Production Department D and transferred to the finished-goods warehouse where completed p
kykrilka [37]

Answer:

A debit to Finished-Goods Inventory

Explanation:

While recording this transaction, the journal entry is as follows

Finished goods inventory $45,000

      To work in process inventory $45,000

(Being the completed units are recorded)

For recording this, we debited the finished goods inventory and credited the work in process inventory so that the correct posting could be done and the same is shown above

8 0
3 years ago
During which of the following stages of socialization do people first learn about the organization and job?a. Role managementb.
Tems11 [23]

Answer:

Letter b is correct. <u>Encounter.</u>

Explanation:

It is through this stage of socialization that new employees begin to learn about the work tasks they will perform and receive appropriate training.

In this phase, employees' expectations are also related to the whole work environment in general, such as employment, their new teammates and supervisors, in order to confront an expectation generated with the reality of the work.

Therefore socialization is relevant for the new employee to replace their expectations generated by the standards expected by the organization.

7 0
2 years ago
A company with a US-based sales force has requested that the VPN system be configured to authenticate the sales team based on th
Kipish [7]

For a great security structure, THREE (3) AUTHENTICATION FACTORS ARE IN USE BY THE VPN SYSTEM.

The use of multiple authentication factors to prove one's identity is based on the premise that an unauthorized actor is unlikely to be able to supply the factors required for access. If, in an authentication attempt, at least one of the components is missing or supplied incorrectly, the user's identity is not established with sufficient certainty and access to the asset (e.g., a building, or data) being protected by multi-factor authentication then remains blocked.

8 0
3 years ago
If a gain of $7,610 is realized in selling (for cash) office equipment having a book value of $55,485, find the total amount rep
OLga [1]

Answer:

total amount reported in the cash flow from investing activities = book value + realized gain = $55,485 + $7,610 = $63,095

Explanation:

In order for this specific gain to be reported only once in the cash flow statement, it must first be deducted from the cash flow from operating activities as an adjustment to net income.

4 0
3 years ago
Other questions:
  • When the allocation of goods and services by a modern mixed economy is not efficient,
    10·1 answer
  • The following information is taken from Reagan Company's December 31 balance sheet:
    15·1 answer
  • Overextended Debtor. Dennis purchased a big screen television from ABC Electronics and financed the purchase through ABC Electro
    5·1 answer
  • A nation has a population of 260 million people. Of these, 60 million are retired, in the military, in institutions, or under 16
    15·1 answer
  • Materials must have which two qualities in order to be classified as direct materials?
    8·1 answer
  • On October 1, Sponge Bob, Inc. received $240 up front from a customer for a yearly magazine subscription. Magazines are provided
    15·1 answer
  • Your coworker Ginny is really concerned about a project that he has just been assigned. He is in charge of analyzing and determi
    7·1 answer
  • 1. Large-denominated ($100,000 and more) time deposits
    14·1 answer
  • Which of the following would indicate an improvement in a company's financial position, holding other things constant? a. The in
    10·1 answer
  • Decades ago, developing and implementing the "right" marketing strategy was all about _________________ . In today's economy, ho
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!