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Nikitich [7]
3 years ago
5

Company ABC acquires company XYZ on 12/31/2016 in a share-for-share transaction worth $10 million. On 12/31/2016, XYZ financial

statements reported total assets $12 million, liabilities $8 million, stockholders equity $4 million, and net income for fiscal 2016 $2 million. At the time of acquisition, the fair value of XYZ's assets equals its book values, except for property, plant and equipment which has a fair value $2 million higher than its book value. Goodwill is expected to be amortized over 10 years, and the average life of depreciable assets is 10 years. If ABC uses purchase accounting to record the acquisition, the amount of goodwill that will appear on its balance sheet as of 12/31/2016 with respect to the acquisition of XYZ will be _____.
Business
1 answer:
seropon [69]3 years ago
5 0
Simply 2mill * number one ☝ the best in north east bay north north west of the east east north north bay east bay
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My best guess is a timeline!
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2 years ago
You are thinking of building a new machine that will save you $ 2 comma 000 in the first year. The machine will then begin to we
Serga [27]

Answer:

Present Value= $18,181.82

Explanation:

Giving the following information:

Savings= $2,000

The machine will then begin to wear out so that the savings decline at a rate of 4 % per year forever.

Interest rate= 7%

To determine the present value of the savings, we need to use the perpetual annuity formula with the decline rate.

PV= Cf/ (i + g)

Cf= cash flow

PV= 2,000/ (0.07 + 0.04)

PV= $18,181.82

4 0
2 years ago
At December 31, Hawke Company reports the following results for its calendar year. Cash sales $ 1,285,070 Credit sales $ 3,610,0
Lady_Fox [76]

Answer:

Explanation:                                              Dr                      Cr

1)

Allowance for doubtful account

3%*3610000                                                                    108300

Bad debt expense                                  108300

2)Allowance for doubtful account

2%*(1285070+3610000)                                                 146,852.10

Bad debt expense                                 146,852.10

3)Allowance for doubtful account

1093830*6%                                                                       65,629.80

Bad debt expense                                    65,629.80                

7 0
3 years ago
2. Prepare a direct materials purchases budget for chemicals for the months of January and February. Do not include a multiplica
Tpy6a [65]

Answer:

Purchases Budget for January   238,590   units  

Purchases Budget for February   233,131 units

Dollar Purchases Budget for January    $ 477,180

Dollar Purchases Budget for February    $ 466,264

Explanation:

<u><em> Patrick Inc.</em></u>

<u><em>Direct Materials Purchases Budget - </em></u>

                                            January           February

Production in units             43,800              41,000

<u>Gallons per unit                  5.5                         5.5 </u>

<u>Gallons for production    240,900             225,500 </u>

Desired ending inventory 33,825                 41,456

<u>Needed                            274,725              266,956 </u>

Less: Beginning inventory 36,135                 33,825

Purchases                         238,590               233,131

Price per gallon                   $ 2.00                  $ 2.00

<u>Dollar purchases               $ 477,180            $ 466,264</u>

<u></u>

Direct Materials Purchases budget is calculated by calculating the gallons per unit which is added to desired ending inventory and beginning inventory is deducted. The purchases units are multiplied with price per unit.

4 0
3 years ago
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mr_godi [17]
Its called Commensalism – symbiotic
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