oject ALL IES Project 1B Kamla Corporation purchased Nick Company on August 28, 2016. The Balance Sheet of Nick Company is as follows: Cash Accounts Receivable (Gross) Short-Term Investments Merchandise Inventory Office Equipment Land Computers Trademarks Total Assets Nick Company Balance Sheet August 28, 2016 $82,000 Accounts Payable 62,000 Long-Term Notes Payable 33,000 Mortgage Payable 29,000 Bonds Payable 55,000 Pension Liability 92,000 Retained Earnings 15,000 Preferred Stock 8,000 Paid in Capital, Preferred Stock $376,000 Total Liabilities & Stockholders' Equity $32,000 36,000 62,000 30,000 69,000 120,500 20,000 6,500 $376,000 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 $8,000. 2) Short-Term Investments current market value was $35,000. 3) Merchandise Inventory was appraised at $23,500. 4) Office Equipment was appraised at $50,000. 5) Land was appraised at $94,400. 6) Computers were appraised at $8,000. 7) The Trademarks present values were 56,400. 8) The company's Mortgage Payable correct value should be 571,000. 9) The Pension Liability was evaluated at 573,500. Compute Total Identifiable Assets, Total Identifiable Liabilities and Net Identifiable Assets for Nick Company. (Do not us your answers with commas.) Total Identifiable Assets RCES 13 - Final Project tion 4 of 4 2020 113 Project 1 Compute Total Identifiable Assets, Total Identifiable Liabilities and Net Identifiable Assets for Nick Company. (Do not use dollar signs (5) your answers with comma) Total Identifiable Assets Objective olella Lakak Total Identifiable Assets Total Identifiable Liabilities Total Identifiable Liabilities Net Identifiable Assets = Selore moving onto the next section please do the following for screen help, click on the hypeninks below) Scroll to the end of the page and click on the "Save for late button to save your work Compute the value of the implied goodwill if Kamla Corporation pays $138,800 for Nick Company. (Do not use dollar signs (s) when answers with commas) Implied Goodwill (Bargain Option) = 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 "Pr 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 com LINK TO TEXT Compute the amount of the "Net Cash" as a result of the acquisition (Enter debit amount with a positive ion and credit amount reflected in your final answers, you nlust enter your answers with commas. Net Cash = Before moving onto the next section, please do the following for screer help click on the hyperlinks below: 1. Scroll to the end of the page and dick on the "Save forlate 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 "Pa you complete the next section Complete these steps each time you have finished a section. Do not click on the submit neers" button until you have come LINK TO TEC LIRITO TE Prepare the journal entry on August 28, 2016 to record the acquisition. (Credit account titles are automatically indented when the am comma-formatted numbers reflected in your final answers, you must enter your answers with commas. Date Account Titles and Explanation Debit Credit 2016 Aug. 28 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 ten button to save your work ter 2. When you are ready to begin che next section, you can reference the work that you have completed by clicking on the you complete the next section Complete these steps each time you have finished section. Do not click on the button until you have complete LINK TO TOT each me you nave d section. Do not click on the "Submit Answers button until you have complet LINK TO TEXT Compute the value of the implied goodwill if Kamla Corporation pays $86,800, instead of $138,800, for Nick Company. (Do not use dollars must enter your answers with commas.) Implied Goodwill (Bargain Option) - Before moving onto the next section, please do the following (for screen help, click on the hyperlinks below): 2. 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 "Printa 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 complet LINK TO TEXT Compute the amount of the "Net Cash" as a result of the acquisition. (Enter debit amount with a positive sign and credit amount with reflected in your final answers, you must enter your answers with commas.) Net Cash 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 "Savelat 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 you complete the next section Complete these steps each time you have finished a section. Do not click on the "Submit " button until you have comples Debit Credit Date Account Titles and Explanation 2016 Aug. 28 LILLE > > >> 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 you complete the next section. Complete these steps each time you have finished a section. Do not click on the "Submit Answers" button until yo