Allocation Schedule - .1 100,000 Customer...

Info icon This preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Allocation Schedule Acquisition date Fair Value Allocation Schedule Fair value of consideration transferred by BigNet………………………….$2,620,000 Book Value of Smallport (see Exhibit 2.3)………………………………... 600,000 Excess of fair value over Book Value……………………………………… $2,020,000** Allocations made to specific accounts based on acquisition date Fair Value and Book Value differences: Computers & Equip ($600,000-$400,000)……………..$200,000 Capitalised software ($1,200,000-$1, 00,000)………...1, 100,000
Image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: ..1, 100,000 Customer Contracts ($700,000-0)………………………. .700,000 Notes Payable ($250,000-200,000)……………………… (50,000) 1,950,000 Excess fair value not identified with specific items-Goodwill……………. $70,000 ** The resulting $2,020,000 difference represents the total amount needed on the exhibit 2.6 worksheet to adjust Smallport’s individual assets and liabilities from book value (and to recognised goodwill)....
View Full Document

  • Spring '16
  • Sewale Abate
  • Generally Accepted Accounting Principles, allocation schedule, excess fair value, Fair Value Allocation

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern