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LaTonia Williamson hw

LaTonia Williamson hw - presented on the income statement...

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Latonia Williamson ACC 401 Week 2 Homework Exercise 2-10 Part A 2011 Carrying Value of Saab’s Identifiable Net Assets $330,000 Fair Value Saab’s Identifiable Net Assets 340,000 Goodwill *no impairment (10,000) 2012 Carrying Value of Saab’s Identifiable Net Assets $320,000 Fair Value Saab’s Identifiable Net Assets 345,000 Goodwill *no impairment (25,000) 2013 Carrying Value of Saab’s Identifiable Net Assets $300,000 Fair Value Saab’s Identifiable Net Assets 325,000 Goodwill *no impairment (25,000) Part B
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No impairment fair value is greater than carrying value for 2011-2013 Part C Goodwill should be presented on the balance sheet as a separate line. Goodwill should be
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Unformatted text preview: presented on the income statement as a separate line in the operating section. Part D No goodwill is impaired Problem 2-1 Phillips stock (20,000 *$10) $200,000 Phillips fair value (20,000 *$15) 300,000 Current Assets $85,000 Plant and Equipment 150,000 Liabilities $35,000 Common stock (20,000 *$10) 200,000 Other contributed capital (20,000*[$10-$15] 100,000 Direct acquisition cost $20,000 Stock issue costs 6,000 Cash $26,000 Problem 2-5 Pro forma Balance Sheet January 1, 2011...
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