Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on march 31, 2018, wolfson corporation acquired al

On March 31, 2018, Wolfson Corporation acquired all of the outstanding common stock of Barney...

50.1K

Verified Solution

Question

Accounting

image
On March 31, 2018, Wolfson Corporation acquired all of the outstanding common stock of Barney Corporation for $17,900,000 in cash. The book values and fair values of Barney's assets and liabilities were as follows: Current assets Property, plant, and equipment Other assets Current liabilities Long-term liabilities Book Value $ 6,900,000 11,900,000 1,090,000 4,900.000 6,900,000 Fair Value $8.400.000 14,900,000 1,590,000 4,900,000 6,400,000 Required: Calculate the amount paid for goodwill. Goodwill 5210000 tab WERT caps lock

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