Dodd Co. acquired 75% of the common stock of Wallace Corp. for $1,800,000. The fair value of Wallace's net assets was $2,100,000, and the book value was $1,900,000. The noncontrolling interest shares of Wallace Corp. are not actively traded. What is the total amount of goodwill recognized at the date of acquisition?
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- ABC Corporation purchased XYZ Inc. The latter has the following account balances: The noncurrent assets have a fair value of P4,500,000. ABC paid the owners of XYZ a total purchase price of P4,500,000. How much is the goodwill that ABC should record from this acquisition? *refer to attached photoOn October 1, 20X8, FLORIDA INC. acquired 100% of FLOUR CORP. for P280,000. On that date, the carrying values of FLOUR's assets and liabilities were P450,000 and P200,000, respectively. The fair values of FLOUR's assets and liabilities were P550,000 and P200,000, respectively. Additionally, FLOUR had identifiable intangible assets at the time of acquisition with a fair value of P60,000. What is the gain to be reported on FLORIDA's December 31, 20X8 consolidated income statement?S acquired 100 percent of F for P275,000. At the date of acquisition, F had the following book and market values: (see image below) What is the amount of the “Investment in F” account on S’s financial records at the acquisition date? What amount of pre-acquisition earnings is eliminated in the acquisition date worksheet elimination? Please answer in good accounting form. Thank you!
- Puncho Company is acquiring the net assets of Semos Company in exchange for common stock valued at $900,000. The Semos identifiable net assets have book and fair values of $400,000 and $800,000, respectively. Compare accounting for the acquisition (including assignment of the price paid) by Puncho with accounting for the sale by Semos.S acquired 100 percent of F for P275,000. At the date of acquisition, F had the following book and market values: (see image below) What is the amount of the “Investment in F” account on S’s financial records at the acquisition date?Hanley acquired 85% of the ordinary share capital of Craig on 30 December 20X7 for $80,000. At this date the net assets of Craig were$95,000. NCI is valued using the fair value method and the fair value of the NCI on the acquisition date is $30,000 What goodwill arises on the acquisition?
- Company A acquires 80% of Company B's outstanding shares for $7 million. The fair value of Company B's net identifiable assets is $7 million at the acquisition date. Company B has a highly-skilled workforce and strong brand recognition that are not separately identifiable on their balance sheet. Calculate the amount of goodwill to be recognized as a result of the acquisition. Prepare the consolidated worksheet entries at the acquisition date. Discuss the subsequent accounting treatment of the goodwill, including impairment testing procedures. Kindly do not provide chat gpt answers, posting this question 3rd time here. If feel the question is from chatgpt and copied from any other source, Wrong answer gets 5 dislikes with red rating & don't get reported Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.Acquirer Limited purchased 75 per cent of Subby Limited for $45 000. The fair value of identifiable assets was $95 000, and the fair value of liabilities and contingent liabilities amounted to $47 000. According to AASB 10, what would be the amount of 'goodwill allocated to non-controlling interests of Subby Limited'?ABC Co. paid P150,000 for its 75% interest in DEF Co. ABC elected to value NCI at fair value. DEF's net identifiable assets approximated their fair values at acquisition date. The acquisition resulted in a goodwill attributable to NCI of P10,000. Since the acquisition date, DEF has made accumulated profits of P200,000. There have been no changes in DEF's share capital since acquisition date. The group determined that goodwill has been impaired by P8,000. A summary of the individual statements of financial positions of the entities as at the end of reporting period is shown below: АВС Со. 1,000,000 DEF Co. Total assets 500,000 Total liabilities 200,000 120,000 Share capital 300,000 100,000 Retained earnings Total liabilities and equity 500,000 280,000 1,000,000 500,000 How much is the NCl in net assets?
- Professor Corporation acquired 70 percent of Scholar Corporation's common stock on December 31, 20X4, for $102,200. The fair value of the noncontrolling interest at that date was determined to be $43,800. Data from the balance sheets of the two companies included the following amounts as of the date of acquisition: Item Cash Accounts Receivable Inventory Land Buildings & Equipment Less: Accumulated Depreciation Investment in Scholar Corporation Total Assets Accounts Payable Mortgage Payable Common Stock Retained Earnings Total Liabilities & Stockholders' Equity Assets Cash Professor Scholar Corporation Corporation $50,300 Accounts receivable Inventory Land Buildings and equipment Less: Accumulated depreciation Investment in Scholar Corporation Total Assets Liabilities & Equity Accounts payable Mortgage payable Common stock Retained earnings NCI in Net assets of Scholar Corporation Total Liabilities & Equity 90,000 130,000 60,000 410,000 (150,000) 102,200 $ 692,500 $152,500 250,000…ABC Company acquired all of XYZ Corporation's assets and liabilities on June 30, 20X1. XYZ reported assets witha book value of P1,000,000 and liabilities of P550,000. ABC noted that XYZ included the amount P70,000 for an obsolete inventory at the acquisition date that did not appear to have any value. ABC also determined that an old machine previously used by XYZ had a fair value of P150,000 but had not been recorded by XYZ. Except for machinery and equipment, all the other assets and liabilities of XYZ approximated their fair values. In recording the transfer of assets and liabilities in its books, ABC recorded goodwill of P420,000 and paid P1,050,000 to acquire XYZ's net assets. If the book value of XYZ's machinery and equipment was P520,000, what was their fair value? *WebHelper Inc. acquired 100% of the outstanding stock of Silicon Chips Corporation (SCC) for $46.1 million, of which $17.2 million was allocated to goodwill. At the end of the current fiscal year, an impairment test revealed the following: fair value of SCC, $42.2 million; book value of SCC’s net assets (including goodwill), $45.3 million. What amount of impairment loss should WebHelper recognize?