FREE Trial

True and False. The difference has to be credited to goodwill A/c, when the value of net assets is less

Question:

True and False. The difference has to be credited to goodwill A/c, when the value of net assets is less than the purchase price.

This problem has been solved!


Do you need an answer to a question different from the above? Ask your question!

Step by Step Answer:

Answer rating: 100% (1 review)
answer-question
Answered By
tutor-profile-image
John Aketch
I have a 10 years tutoring experience and I have helped thousands of students to accomplish their educational endeavors globally. What interests me most is when I see my students being succeeding in their classwork. I am confident that I will bring a great change to thins organization if granted the opportunity. Thanks
5.00+ 8+ Reviews 18+ Question Solved
Related Book For  answer-question
Corporate Accounting

Corporate Accounting

ISBN: 9789353160739

1st Edition

Authors: Anita Raman, P. Radhika

See More Books
Question Details
Chapter # 5- ACQUISITION OF BUSINESS,,
Section: True or False
Problem: 4
View Solution
Create a free account to access the answer
Cannot find your solution?
Post a FREE question now and get an answer within minutes. * Average response time.
Question Posted: August 31, 2023 12:11:23
See More Questions

Students also viewed these Business questions

Q:
Capital Reserve A/c is credited with the difference amount: (a). When the value of net assets is less than the purchase price (b). When the value of net assets is greater than the purchase price (c)....
A:
b When the va......
Q:
When the value of net assets is less than the purchase price, the difference is debited to ____________ A/c.
A:
Click to View...
Q:
The degree of operating leverage for Dousmann Corp. and PCB Co. are 1.4 and 5.6, respectively. Both have net incomes of $50,000. Determine their respective contribution margin s.
A:
Degree of operating leverage Contribution ma......
Q:
Return to the facts of problem 35. In the next year, Janet has a taxable income from her salary and investment activities of $62,000. The results for her three passive activities are Passive activity...
A:
a There would be no effect on Janet s 62 000 taxable income The 15 000 of suspended loss from the pr......
Q:
The Omega Manufacturing Company has discontinued the production of a certain unprofitable product line. This act created considerable excess production capacity. Management is considering devoting...
A:
a Let x i be the number of units of prod......
Q:
Free Flow Oil Limited, an Indian company set up an office in Sri Lanka for executing a specific contract. Due to some reasons, the Sri Lankan government put a ban on the company to operate in the...
A:
As there is evidence to believe that Sri Lankan o......
Q:
On July 5, Feather Company recorded sales of merchandise inventory on account, $20,000. The sales were subject to sales tax of 9%. On August 15, Feather Company paid $1,200 of sales tax to the state....
A:
Requirement 1 Date Accounts and Explanation Debit Credit July 5 Accoun......
Q:
The two opposing forces faced by companies when expanding into global markets are cost reduction and O A. acceptance of intellectual property B. adaptation to local markets O C. sharing of factors of...
A:
The detailed answer for the above question is provid......
Q:
Pass journal entries to record the following transactions in the books of XY Ltd. Name of the Purchasing Company: Name of the Vendor: Purchase price: Mode of payment of purchase price: Value of...
A:
To record the purchase of assets from Raman by XY Ltd you would need to make the fo......
Q:
Payment of purchase consideration can be in the form of: (a). Shares (b). Debentures (c). Cash (d). All of the above
A:
d A......
Q:
Explain the differences among the completely randomized design, randomized complete block design, and factorial design.
A:
In a completely randomized design the researcher examines a single factor f......
Q:
Follow the Binary Search Tree (Years tableodes below) to answer the questions: 1/ Which year has the biggest value in the BINARY SEARCH TREE (Java)? 2/ Which year has the smallest value in the BINARY...
A:
Since it is a binary search tree the left subtree of a node contains only nodes with values lesser t......
Q:
A multithreaded merge sorting program works as follows: A list of N integers is divided into k, sub-lists of equal sizes. Then, a number equal to k sorting threads are created in order to sort each...
A:
void sorter void params parameters p parameters params int begin p from index int end p to index 1 int temp 0 int i int j for i begin i end i for j begin j end 1 j if list j list j 1 temp list j list......
Q:
a) Implement the Ford-Fulkerson Network Flow Algorithm for the following graph G with V vertices and E edges (source is node 1 and destination/sink is node 8). Your graph must take in user input for...
A:
Answer Implementation of Ford Fulkerson Network flows algorithm in ja......
Q:
2 Your task is to illustrate the operation of QUICKSORT algorithm on the array A = (57, 70, 97, 38, 63, 21, 85, 68, 76), as follows: (1) select the last element in A[] as the pivot, and execute the...
A:
JAVA CODE import java util Array......
Q:
Given the directed graph below, show the traversal order (e.g., 1, 2, 3, 4, ....) when you apply (i) depth-first search starting from 1 and (ii) depth-first search starting from 2. 11 10 8 Activate...
A:
Click to View...
Q:
Waterhouse Company plans to issue $500,000, 10-year, 10 percent bonds. Interest is paid semiannually on June 30 and December 31. All of the bonds will be sold on January 1, 2011. Determine the...
A:
Principal 500 000......
Q:
Why is disclosure of depreciation or amortization methods and rates so important?
A:
Disclosure of depreciation or amortization methods and rates is important because companies hav......
Q:
The draft financial statements of P K Ltd for the year ending on 31st March, 2016, represent a profit of 4,25,000. The following issues have not yet been taken into account: (a) On 16th April, 2016...
A:
C......
Q:
From the following information of Hindustan Construction Company Limited, you are required to prepare a Statement of Profit and Loss for the year ended on 31st March, 2017: Gross Sales / Revenue from...
A:
Particulars Amount in lakhs Gross Sales Revenue from Operations 85 88......
Q:
Which of the following can be recognized as intangible assets in a companys financial statements? (i) Internally generated goodwill (ii) Purchased goodwill (iii) Reputation A. (i) Only B. (ii) Only...
A:
B......
Hades - ISBN: 0786040696 - Free Book