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- Question compte Question 10 1 Company Required the excepted the abilities of Company mary 1, 2000, pe 12.700.000 Company's balance she was follow BOOK VALU EAR VALU Accounts receivable $ 350,000 $ 200,000 Laventory 320,000 Land 950,000 1,400,000 Buildings (ot) 1,000,000 1.330.000 Total $2,500,000 $3.250.000 300,000 $ 800.000 $.950.000 400,000 Accounts payablo Common stock, Spar Other contributed capital Retained earnings Total 700.000 600.000 $2.500.000 P Company agreed to pay S Company's former stockholders $150,000 cash in 2022 if post-combination canings of the combined company reached 51.000.000 during 2031 Hari Time 11 min Question Completion State Retained in Total 000 0.00 1 Company agreed to pay Company wholde 5150,000 cash in 2022 if post.com of the comme Required (Calculate the goodwill on requisition Answer: The goodwill on wcquisition (b) Prepare the journal entry necessary for Company to record the acquinition on January 1, 2020. It is expected that the marings turpet is likely to be net Answers Cr Dr Accounts Receivable Inventory Land Buildings (net) Goodwill y to record the acquisition on January 1, 2020. It is expected that the earning target is likely to be Answer: Dr Cr Accounts Receivable Inventory Land Buildings (not) Goodwill Accounts Payable Cash Liability for Contingent Consideration Click Submit to complete this assessment

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