Homework: HMW3 Question 4, P10-40B (similar to) Part 1 of 3 HW Score: 3.07%, 0.55 of 18 points Points: 0 of 3 Save Metown Telecom provides communication services in lowa, Nebraska, the Dakotas, and Mortara Midtown purchased goodwill as part of the acquisition of Shurtur Wireless Enterprises which had the following figures. Click the con to view the data) Requirements 1. Jourrate the erby to record Midtown's purchase of Shurburn Wireless for $380,000 cash plus a $540,000 note payable 2. What special asset does Midtown's acquisition of Shurburn Wireless identity? How should Midtown Telecom account for this asset after acquiring Shutum Wireless? Explan in detail then credits Select the explanation on the last line of the journal entry table) Debit Accounts and Explanation Date Credit Goodwill Liabilities Cash Part 1 of 3 O Points: 0 of 3 M Mellem.outlqsed goodwill as part of - X - Data table Telecom provides communication service n Wireless Enterprises, which had the fold ck the icon to view the data) ements urnalize the entry to record Midtown's pure mat special asset does Midtown's acquisitio reless? Explain in detail te payable scount for this asset afte $ Book value of assets Market value of assets Market value of liabilities 600,000 900,000 540,000 dits Select the explanation on the last line Accounts and Print Done Assets Goodwill Liabilities Cash Homework: HMW3 Question 4, P10-40B (similar to) Part 1 of 3 HW Score: 3.07%, 0.55 of 18 points Points: 0 of 3 Save CC nu Midtown Telecom provides communication services in town, Nebraska, the Dakotas, and Montana Midtown purchased goodwill as part of the acquisition of Shutumn Wireless Enterprises, which had the following figures ents Click the icon to view the data) Requirements 1. Journalize the entry to record Mochow's purchase of Shutumn Wireless for $360,000 cash plus a $540,000 note payable: 2 What special asset does Midtowels acquisition of Shuttum Wireless idently? How should Midtown Telecom account for this asset ater acquining Shuburn Wireless? Explain in detail wer uit then credits Select the extention on the last line of the journal entry table) Date Accounts and Explanation Debit Credit Assets Goodwill Cash Part 1 of 3 O Points: 0 of 3 M Mellem.outlqsed goodwill as part of - X - Data table Telecom provides communication service n Wireless Enterprises, which had the fold ck the icon to view the data) ements urnalize the entry to record Midtown's pure mat special asset does Midtown's acquisitio reless? Explain in detail te payable scount for this asset afte $ Book value of assets Market value of assets Market value of liabilities 600,000 900,000 540,000 dits Select the explanation on the last line Accounts and Print Done Assets Goodwill Liabilities Cash
