Question
In: Accounting
9. Annapolis Company was recently sold for $450,000. Annapolis had assets & liabilities appraised at the...
9.
Annapolis Company was recently sold for $450,000. Annapolis had assets & liabilities appraised at the time of the sale in the amounts of:
|
Item |
Amount |
|
Accounts Receivable assumed by buyer |
$93,000 |
|
Inventory |
$250,000 |
|
Property, Plant & Equipment (net) |
$530,000 |
|
Notes Payable assumed by buyer |
$705,000 |
Using this information, how much should be recorded as Goodwill for this transaction?
10.
Bowie Company made a lump sum purchase of land, building, and equipment. The following were the appraised values of each element:
|
PP&E Element |
Amount |
|
Land |
$15,000 |
|
Building |
35,000 |
|
Equipment |
45,000 |
Bowie paid $65,000 cash for the lump sum purchase. What value should be allocated to the building? (Enter only whole dollar values.)
Solutions
ekkarill92 answered 1 year agoRelated Solutions
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