Porter Co. acquired 80% of the common stock of Kriz Corp. for $700,000. The fair value of

Fantastic news! We've Found the answer you've been seeking!

Question:

Porter Co. acquired 80% of the common stock of Kriz Corp. for $700,000. The fair value of Kriz's net assets was $800,000 and the book value was $725,000. The non-controlling interest shares of Kriz Corp. are not actively traded.

Determine the total amount of goodwill to be recognized.

Related Book For answer-question

Advanced Financial Accounting

ISBN: 9781260772135

13th Edition

Authors: Theodore Christensen, David Cottrell, Cassy Budd

See More Books

Posted Date: May 03, 2024 08:55 AM

See More Questions

The Company classifies its investments in both fixed income securities and publicly traded equity securities as available- for- sale investments. Fixed income securities primarily consist of U. S....
On January 1, 2014, Hi-Speed.com acquired 100 percent of the common stock of Wi-Free Co. for cash of $730,000. The consideration transferred was allocated among Wi-Frees net assets as follows: At the...
Parson Industries purchased 80% of the common stock of Succo Company on January 1, 2010, for $300,000 when Succo Companys capital consisted of common stock of $200,000, preferred stock of $100,000,...
If the appropriate discount rate for the following cash flows is 7.13 percent per year, what is the present value of the cash flows? Year Cash Flow 1 ......................$1,400 2...
A student who usually does very well in math is trying to decide whether to take Professor A or Professor B for statistics. The two professors have similar teaching styles and the same grading...
Assume that your company sells portable housing to both general contractors and the government. It sells jobs to contractors on a bid basis. A contractor asks for three bids from different...
Why is the EBITDA line so important?
Durwin County issued $200 million in long-term debt to fund major improvements to the county's road and transportation systems. The debt is to be serviced from the proceeds of a specially dedicated...
Each student shall include a "reflection" piece in the portfolio. This reflection shall be a minimum of seven fifty words. The student will reflect on their experiences and courses at DTCC in the...
How many terms are required to compute the following sum to an accuracy of within 0.0001? n=1 Follow methods used in notes and videos in Section 11.3 on "Integral Test and Estimates of Sums" as...
When attending a costume party at a local bar, the accused (Kevin) groped the complainant multiple times. Despite the fact that the complainant said a clear "No" to every sexual advance Kevin made,...
You obtained job-related information about the HR assistant position from O*Net. Answer the following sections based on that information. QUESTIONS: The following is the list of questions included in...
You obtained job-related information about the HR assistant position from O*Net. Answer the following sections based on that information. QUESTIONS: The following is the list of questions included in...
ABC Hospital is one of two hospitals in the community. The Hospital offers all major specialty services (e.g. cardiology, neurology, pulmonology, etc.) The Hospital is approached by a cardiologist...
In the text's case on the county clerk and marriage licenses, whatare the ethical issues involved? What are the conflicting ethical values and whichvalues were maximized/minimized? The Case of the...
Answer the following questions: (a) Describe the 7 step SDLC (b) Describe a different SDLC model (c) Compare and contrast the 7 step model and the second model you selected. Your prior its textbooks...
A number of years ago the United Food and Commercial Workers Union organized 800 workers of the 1035 employees at one of the Wilson Brothers food operations in Toronto, Ontario. The employees include...
With reference to Exercise 4.5, find an expression for the distribution function $F(x)$ of the random variable. Data From Exercise 4.5 k 4.5 Given that f(x): = is a probability distribution for 2x...
Given that $f(x)=\frac{k}{2^{x}}$ is a probability distribution for a random variable that can take on the values $x=$ $0,1,2,3$, and 4 , find $k$.
Check whether the following can define probability distributions and explain your answers. (a) $f(x)=\frac{1}{4}$ for $x=10,11,12,13$ (b) $f(x)=\frac{2 x}{5}$ for $x=0,1,2,3,4,5$ (c)...

Porter Co. acquired 80% of the common stock of Kriz Corp. for $700,000. The fair value of

Question:

Expert Answer:

Answer To determine the total amount of goodwill to be recognized in this acquisition we need to fol... View the full answer

Advanced Financial Accounting

Students also viewed these accounting questions