Lake Incorporated purchased all of the outstanding stock of Huron Company paying $950,000 cash. Lake assumed all of the liabilities of Huron. Book values and fair values of acquired assets and liabilities were:Book Value Fair ValueCurrent assets (net) $130,000 $125,000Property, plant, equip. (net) 600,000 750,000Liabilities 150,000 175,000Lake would record goodwill of:a. $ 0. b. $ 75,000. c. $445,000. d. $250,000.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Lake Incorporated purchased all of the outstanding stock of Huron Company paying $950,000 cash. Lake assumed all of the liabilities of ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Stock Exchanges are located in all the following cities except A: Tokyo B: Chicago C: New York D: London
Answers (2)
Tunes Company determines that a customer balance of $250 from Able Co. is uncollectible. Tunes uses the allowance method to account for bad debts.
Answers (1)
MegaRock produces quick setting concrete mix. Production of 207,840 tons was started in April, 195,440 tons were completed. Material costs were $3,152,640 for the month while conversion costs were $594,200.
Answers (1)
Integrating within the organization is a mechanism to manage project complexity, and include frequent team meetings as an example. True False
Answers (1)
What would a competitive retailer have to do to get your patronage?
Answers (1)
New Questions in Business
A firm has hired you as a consultant. This firm is perfectly competitive and has no control over price. This firm is selling 10,000 units at a price of $2. Total costs are $30,000. Total variable costs are $25,000.
Answers (1)
Stock in 1999 your parents bought $3000 worth of stock. in 2000 the value of the stock jumped to $6000. however since that time, the stock has decreased in value by 6.5% per year.
Answers (1)
True or False: When a country is too small to affect the world price, allowing free trade will have a non-negative effect on total surplus in that country, regardless of whether it imports or exports as a result of international trade. True False
Answers (1)
Assume Canada can either produce three bushels of barley or six bushels of hay in a set period of time, and China can produce either two bushels of barley or three bushels of hay in a set period of time.
Answers (1)
The financial statements for Harold Corporation contained the following information: Accounts receivable $ 5,000 Sales revenue 75,000 Cash 15,000 Salaries and wages expense 20,000 Rent expense 10,000 How much was Harold's net income?
Answers (1)