Suppose Yard Apes

Suppose Yard Apes - Assets Liabilities Cash $ 6,000...

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Suppose Yard Apes, Inc., purchases the Greener Landscape Group for $50,000. When the purchase  takes place, the Greener Landscape Group has assets with a fair market value of $45,000 and  liabilities of $15,000, so the company would seem to be worth only $30,000. The Greener Landscape Group Fair Market Value of Assets and Liabilities July 31, 20X5
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Unformatted text preview: Assets Liabilities Cash $ 6,000 Accounts Payable $ 3,000 Accounts Receivable 4,000 Wages Payable 1,000 Supplies 1,000 Unearned Revenue 2,000 Prepaid Insurance 2,000 Notes Payable 9,000 Equipment 12,000 Total Liabilities $15,000 Vehicles 20,000 Total Assets $45,000...
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