Briefly explain how the government uses taxation as a redistribution method

The balance sheet of Cattleman's Steakhouse shows assets of $86,800 and liabilities of $14,800. The fair value of the assets is

xxMikexx [17]

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.

6 0

3 years ago

Cheyenne Corp. is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first y

qaws [65]

Answer:

Feb. 1

Debit : Cash (48,000 x $52) $2,496,000

Credit : Preferred Stock (48,000 x $50) $2,400,000

Credit : Paid in excess of Par - Preferred Stock $96,000

July 1

Debit : Cash (66,000 x $56) $3,696,000

Credit : Preferred Stock (66,000 x $50) $3,300,000

Credit : Paid in excess of Par - Preferred Stock $396,000

Explanation:

With Par value stocks, any amount paid in excess of par is placed in a reserve - Paid in Excess of Par as shown in the journals above.

5 0

2 years ago

At the start of the current year, Company A purchased 30% of Company B for $45 million. At the time of purchase, the carrying va

brilliants [131]

Answer: a. $4.5 million

Explanation:

The depreciation to be recognized is;

= Value of Depreciable assets * Percent of company owned

= 15,000,000 * 30%

= $4,500,000

5 0

2 years ago

In what sort of pricing strategy does the team apply different price scales based on factors such as opponent, event, time of se

Len [333]

Answer:

variable pricing

Explanation:

A variable pricing strategy refers to selling a same product or service at a different price depending on the sales location, date, or other factors. This type of strategy is used to try to maximize revenue by adjusting price to the different categories of our points of sale or our customers.

In case of sports teams, they will price their seats based on other factors like who is the opponent (current champion v. bad teams), day of the week (weekends v. weekdays) or the time of the season (middle of the season v. near playoffs), etc.

7 0

3 years ago

Philippa is getting ready to start preparing the income statement for General Graders, a company that manufactures graders used

melamori03 [73]

The financial document that Philippa has already prepared is the cost of goods manufactured schedule.

<h3>What is a financial document?</h3>

It should be noted that a financial document simply means a document that's necessary in an organization to carry out transactions.

In this case, since Philippa is getting ready to start preparing the income statement for General Graders, the financial document that Philippa has already prepared is the cost of goods manufactured schedule.

Learn more about financial documents on:

brainly.com/question/2806276

5 0

2 years ago