Under what circumstance might goodwill be allocated to a new partner entering a partnership?
Question:
Goodwill
Goodwill is an important concept and terminology in accounting which means good reputation. The word goodwill is used at various places in accounting but it is recognized only at the time of a business combination. There are generally two types of...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 60% (10 reviews)
Allocating goodwill to an entering partner may be necessary for seve...View the full answer
Answered By
Anthony Njoroge
I am an articulate and confident person who relishes challenges and can comfortably works under pressure. My greatest strengths are my research, communication and writing skills. I have an excellent ability to write good quality content and also prides strong technical skills as well as excellent interpersonal skills. I am an energetic and ambitious person who has developed a mature and responsible approach to any task that is presented to me. As a graduate with three-year-experience in tutoring, I am excellent in working to achieve certain objectives on time and with excellence.
0.00
0 Reviews
10+ Question Solved
Related Book For
Advanced Accounting
ISBN: 9781260247824
14th Edition
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik
Question Posted:
Students also viewed these Accounting questions
-
Under what circumstance might a judge rely on case law to determine the intent and purpose of a statute?
-
Under what circumstance might you be more profitable by outsourcing production?
-
Why might noncontrollable costs be allocated to a department?
-
A space-filling curve is a continuous curve in the unit square that passes through every point. Write a recursive Turt le client that produces these recursive patterns, which approach a space-filling...
-
Determine the transfer function V0(s)/V(s) of the operational amplifier circuit shown in Figure E2.20. Assume an ideal operational amplifier. Determine the transfer function when R1 = R2 = 100 k, C1...
-
In the model of the hydrogen atom proposed by Bohr in 1913, the electron moves around the nucleus at a speed of 2 x 106 m/s in a circular orbit of radius 5 x 10-11 m. What is the magnitude of the...
-
A friend of yours just told you an interesting story. While at their parents house over the weekend, your friends parents saw the textbook for an entrepreneurship class that your friend is completing...
-
a. Prepare the general journal entries required to record the following transactions in the general ledgers of the state, the County General Fund, and the County Tax Agency Fund. You may omit formal...
-
What industry is Airbnb in? Is Airbnb in a risky industry? Why/when Airbnb begin its operations? Has Airbnb announced an IPO, or possibly a SPAC deal, since it received its initial funding? If now...
-
Saratoga Ltd. was having difculty in raising nance for expansion. Kingsh Ltd. was interested in achieving economies by marketing a wider range of products. The following shows the nancial positions...
-
A new partner enters a partnership and goodwill is calculated and credited to the original partners. How is the specific amount of goodwill assigned to these partners?
-
When a partner withdraws from a partnership, why is the final distribution often based on the appraised value of the business rather than on the book value of the capital account balance?
-
A researcher reports an F-ratio with df = 3, 36 from an independent-measures research study. a. How many treatment conditions were compared in the study? b. What was the total number of participants...
-
8. Determine one possible value for x when 0x2 for each of the following. Give answers in simplest exact form. [A6] a. |sinh = sinx, x #23 3/4 b. cos _1131* =sinx c. tan =cotx I
-
Home work Differential amplifier with Darlington input transistors: A) If Rb-0 prove that: Rid=4(hfe+1)hie1=4(hfe+1)hib1 B) If Rb+ 0 prove that: CMRR Ro3 Rb (1+hfe) 2hib1+ VI Rb where Ro3 = r03...
-
2) A math tutor makes $15.00 per hour in the tutoring lab at her school. She earns an additional $7.50 more per hour overtime for any hours worked which exceed her normal 40-hr work week. b) Write a...
-
Eliminate Affordable Care Act subsidies for those earning between 300 and 400 percent of the federal poverty level. The Affordable Care Act (Obamacare) allows individuals and families to purchase...
-
Think about your experiences on the flip-side of writing: What do you read? Why do you read particular books, articles, manuals, online content, etc? In what settings and for what reasons do you...
-
Nick Andrews, a fixed-income investment analyst, has been asked by his supervisor to prepare an analysis of the convertible bond issued by Heavy Element Inc., a chemical industry company, for...
-
The area of square PQRS is 100 ft2, and A, B, C, and D are the midpoints of the sides. Find the area of square ABCD. B A
-
What are the three basic kinds of presentations and what are the strengths and weaknesses for each?
-
Describe the differences between a Subchapter S corporation and a Subchapter C corporation.
-
A company is being created and the owners are trying to decide whether to form a general partnership, a limited liability partnership, or a limited liability company. What are the advantages and...
-
A company is being created and the owners are trying to decide whether to form a general partnership, a limited liability partnership, or a limited liability company. What are the advantages and...
-
Melbourne, VIC . The auction property has been passed in and you are negotiating between vendor and the highest bidder but they remain apart with your vendor reluctant to reduce from their reserve,...
-
On January 1, 2018, Shark Company acquired equipment at a total cost of $66,000. The equipment had a useful life of 5 years with a residual value of $6,000. Shark Company used Double-declining...
-
Electric Car Maker Tesla makes 100,000 units of "2170 Cell" peryear in its Nevada based gigafactory for use in Model 3 Electriccar. Data concerning the unit production costs of the "2170 Cell"are as...
Study smarter with the SolutionInn App