[Solved] Suppose Joe's just acquired the assets of

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 09, 2024

Suppose Joe's just acquired the assets of Grace's Flowers. The book value of Grace's Flowers assets was $68,000 but Joe's paid a total of $75,000.

Suppose Joe's just acquired the assets of Grace's Flowers. The book value of Grace's Flowers assets was $68,000 but Joe's paid a total of $75,000. The additional $7,000 paid by Joe's will be recorded on Joe's balance sheet as:

a. accounts payable.

b. goodwill.

c. other current assets.

d. property, plant, and equipment.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Handbook Of News Analytics In Finance

Authors: Gautam Mitra, Leela Mitra

1st Edition

ISBN: 047066679X, 978-0470666791

More Books

Students also viewed these Finance questions

Question

★★★★★

Discuss the role of transportation in the supply chain. Provide examples of how transportation can positively and negatively impact supply chain performance.

Answered: 1 week ago

Question

★★★★★

Exercise 3-5 (Algo) Journal Entries and T-accounts [LO3-1, LO3-2] The Polaris Company uses a job-order costing system. The following transactions occurred in October: Raw materials purchased on...

Answered: 1 week ago

Question

★★★★★

1. Why is CD more commonly diagnosed among adolescent boys than adolescent girls? Are the diagnostic criteria for CD gender biased? Should they be changed?

Answered: 1 week ago

Question

★★★★★

Read the case study her vision of a model research center. You are to write an essay narrative that must include the following questions. What is it about Rachels leadership that clearly suggests...

Answered: 1 week ago

Question

★★★★★

Davenport Inc. offers a new employee a single-sum signing bonus at the date of employment. Alternatively, the employee can receive $34,000 at the date of employment and another $54,000 3 years later...

Answered: 1 week ago

Question

★★★★★

Item9 7.14 points Return to questionItem 9 Problem 3-9 Sources and Uses of Cash [LO1] You are given the following information for Ortiz Corporation: Decrease in inventory $ 500 Decrease in accounts...

Answered: 1 week ago

Question

★★★★★

Here is an interesting game presented and discussed by psychologists, mathematicians, philosophers, and people in business, risk management, and gambling. You start with $1, and a die is rolled. You...

Answered: 1 week ago

Question

★★★★★

Poh has just started working at a new manufacturing plant and she is struggling to remain motivated at work. At her old workplace, she created insulin pumps for patients with diabetes and assembled...

Answered: 1 week ago

Question

★★★★★

Find the amount (in $) of interest on the loan. Principal Rate (%) Time Interest $50,000 73 9 months tA $ 4

Answered: 1 week ago

Question

★★★★★

7. Make a table of values and graph each function. a) g(x) =-3x+5 for the domain (-3, -2, -1, 0, 1, 2, 3} b) h(x) = for the domain {x | -10 x 10, x = R} Apply 8. Mike currently has $200 and saves $20...

Answered: 1 week ago

Question

★★★★★

An important factor in choosing the best communication channel is its media richness. What does this concept meant, why it is useful to manager and briefly state how technology has contributed in...

Answered: 1 week ago

Question

★★★★★

3 In view of the need to make the organization meaner, leaner and to give employees more flexible contracts, how can a company like DEC balance the instrumental needs of shareholders interests with...

Answered: 1 week ago

Question

★★★★★

1 What could be some of the problems if DEC tried to implement autonomous work teams, as they did in Scotland, in countries whose culture is higher in power distance and in uncertainty avoidance?...

Answered: 1 week ago

Question

★★★★★

2 What aspects of management and organizational learning are transferable from Anglo-Saxon countries to other countries?

Answered: 1 week ago

Previous Question Next Question