Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. i just need ans for required 1 robinson compa

I just need ans for Required 1 Robinson Company purchased...

60.1K

Verified Solution

Question

Accounting

I just need ans for

  • Required 1

image

Robinson Company purchased Franklin Company at a price of $3,830,000. The fair market value of the net assets purchased equals $2,850,000. 1. What is the amount of goodwill that Robinson records at the purchase date? 2. Does Robinson amortize goodwill at year-end for financial reporting purposes? 3. Robinson believes that its employees provide superior customer service, and through their efforts, Robinson believes it has created $1,410,000 of goodwill. Should Robinson Company record this goodwill? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What is the amount of goodwill that Robinson records at the purchase date? Goodwill

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

Why don't infants suffer from sickle cell anemia? (Need an in-depth answer that focuses on the...

Biology
1.2K views

The modern classification system is based on A B C D putting organisms into categories...

Basic Math
1.2K views

CorrectThe safe load, L, of a wooden beam supported at both ends varies jointly as...

Accounting
1.2K views

Expenses are to revenues from the same transaction. (Enter only one...

Accounting
1.2K views

Marbry Corporation's balance sheet and income statement appear below: ...

Accounting
1.2K views

PLZ HELP Required information Exercise 9-19A Calculate the issue price of bonds (LO9-7) [The...

Accounting
1.2K views

Question 8 Sales Invoices are automatically sequentially numbered by Sage 50 Accounting True O False

Accounting
1.2K views

All sales are on credit. Recent experience shows that 20% of credit sales is collected...

Accounting
1.2K views

1. How has each ratio changed over time? 2. How does each ratio compare to...

Accounting
1.2K views

A company reports the following: Income before income tax $371,490 Interest expense $60,900 Determine the...

Finance
1.2K views

Sistern & Moore is considering a proposed project with the following cash flows. Should this...

Finance
1.2K views

23 S32 33 1 point QUESTIONS The beta of Stock Ais -0.3 (indicating that its...