Question
On June 1, Cline Co. paid $1,066,000 cash for all of the issued and outstanding common stock of Renn Corp. The carrying amounts for Renns
On June 1, Cline Co. paid $1,066,000 cash for all of the issued and outstanding common stock of Renn Corp. The carrying amounts for Renns assets and liabilities on June 1 follow:
| Cash | $ | 240,000 | |
| Accounts receivable | 299,000 | ||
| Capitalized software costs | 324,000 | ||
| Goodwill | 158,000 | ||
| Liabilities | (150,000 | ) | |
| Net assets | $ | 871,000 | |
On June 1, Renns accounts receivable had a fair value of $211,000. Additionally, Renns in-process research and development was estimated to have a fair value of $254,000. All other items were stated at their fair values. On Clines June 1 consolidated balance sheet, how much is reported for goodwill?
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Produktivitat Von Dienstleistungen
Authors: Klaus Moller, Wolfgang Schultze
3rd Edition
3658040858, 9783658040857
