Answer:
Goodwill = $35,000
<u>Journal</u>
J1
Investment in Marino $300,000 (debit)
Cash $300,000 (credit)
J2
inventory $10,000 (debit)
equipment $230,000 (debit)
Trade Receivable $25,000 (debit)
Goodwill $35,000 (debit)
Investment in Marino $300,000 (credit)
Explanation:
Goodwill is the excess of Purchase price over fair value of Assets and Liabilities transferred in a Business combination agreement.
Goodwill = Purchase price - Net Assets Transferred (fair value)
= $300,000 - ($10,000+$230,000+$25,000)
= $35,000
Answer:When the federal government spends more money than it receives in taxes in a ... spending over time in nominal dollars is misleading because it does not take ... defense spending as a share of GDP has generally declined since the 1960s, ... Healthcare expenditures include both payments for senior citizens (Medicare), ...
Explanation:
<span>Food service operators must pay attention to detail and watch their finances in order to maximize the profit they can generate through the operation of their business. There are many aspects of a food service business that have potential to be a loss, so operators must be aware of these aspects - such as loss from ordering too much food or ingredients, employee theft, and so on.</span>