{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Suppose Yard Apes

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

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

View Full Document Right Arrow Icon
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
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

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...
View Full Document

{[ snackBarMessage ]}

Ask a homework question - tutors are online