\begin{tabular}{|c|c|c|c|} \hline \multirow[b]{2}{*}{ Cash } & \multicolumn{2}{|c|}{\begin{tabular}{c} Nick Company \\ Balance Sheet \\ August 28, 2016 \end{tabular}} & \multirow[b]{2}{*}{$30,000} \\ \hline & $80,000 & Accounts Payable & \\ \hline Accounts Receivable (Gross) & 60.000 & Long-Term Notes Payable & 36.000 \\ \hline Short-Term Investments & 28.000 & Mortgage Payable & 60,000 \\ \hline Merchandise Inventory & 28,000 & Bonds Payable & 30,000 \\ \hline Otfice Equipment & 45.000 & Pension Liability & 68.000 \\ \hline Land & 90,000 & Retained Earnings & 104,000 \\ \hline Computers & 15,000 & Preferred Stock & 20.000 \\ \hline Trademarks & 6,000 & Paid in Capital, Preferred Stock & 4,000 \\ \hline Total Assets & $352,000 & Total Liabilities \& Stockholders' Equity & $352,000 \\ \hline \end{tabular} Additional information: The amounts shown on the above balance sheet reflects the approximate market values except: 1) The Allowance for Doubtful Accounts was determined to be $6,000. 2) Short-Term Investments current market value was $30,000. 3) Merchandise Inventory was appraised at $24,000 4) Office Equipment was appraised at $41,500. 5) Land was appraised at $92,000. 6) Computers were appraised at $9,000. 7) The Trademarks present values were $5,000. 8) The company's Mortgage Payable correct value should be $68,000. 9) The Pension Liability was evaluated at $72,000. Compute Total Iderkifable Assets, Total Idontifable Liabilities and Net identifable Assets for Nick-Compary iDo rot ase dolfor commas) Before moving onto the next section, please do the following (for screen heip, click on the hyperlinks below): 1. Scroll to the end of the page and click on the "Save for Later" button to save your work. 2. When you are ready to begin the next section, you can reference the work that you have completed by clicking on the "Printer Version" button at the top of the page. Doing this will open your saved answers in a new window to help you complete the next section. Complete these steps each time you have finished a section. Do not click on the "Submit Answers" button until you have completed all of the sections. eTextbook and Media Compute the amount of the "Net Cash" as a result of the acquisition. (Enter debit amount with a positive sign and credit amount with a negative sign. Do not use dollar signs (\$) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with correnas.) Before moving onto the next section, please do the following (for screen help, click on the hyperlinks below): Prepare the journal entry on August 28,2016 to record the acquisition. (Credit occount titles are outomatically indented when the amount is entered, Do not Indent manually. Do not use dollar s(gns (\$) when entering amounts. To see comma-formotted numbers reflected in your final answers, you must enter your answers with cornmas.) Before moving onto the next section, please do the following (for screen help, click on the hyperlinks below): 1. Scroll to the end of the page and click on the "Save for Later" button to save your work. 2. When you are ready to begin the next section, you can reference the work that you have completed by clicking on the "Printer Version" button at the top of the page. Doing this will open your saved answers in a new window to help you complete the next section. Complete these steps each time you have finished a section. Do not click on the "Submit Answers" button until you have completed all of the sections. eTextbook and Meala Compute the amount of the "Net Cash" as a result of the acquisition. (Enter debit amount with a positive sign and credit amount with a negative sign. Do not use dollar signs (\$) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas.) Prepare the journal entry on August 28, 2016 to record the acquisition. (Credit occount titles are outamatically indented when the amount is entered. Do not indent manually, Do not use dolfar s(juns (\$) when entering amounts. To see commo-formatted numbers reflected In your final answers, you must enter your answers with commas] Kamla Corporation purchased Nick Company on August 28,2016. The Balance Sheet of Nick Company is as follows: Totalldentinable Amets Total Identifable Assets Total Identifiable Liabilities Total Identifiable Liabilities Net Identifiable Assets =5=5
