Explain the fair value of its liabilities, Accounting Basics

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Explain the fair value of its liabilities

The balance sheet of Cattleman's Steakhouse shows assets of $87,300 and liabilities of $15,000. The fair value of the assets is $90,600, and the fair value of its liabilities is $15,000. Longhorn paid Cattleman's $84,320 to acquire it. Longhorn should record goodwill on this purchase?

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Accounting Basics: Explain the fair value of its liabilities

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Accounting Basics: Explain the fair value of its liabilities

Reference No:- TGS0677835

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Prepare only the operating activities section

Q : Convertibles or bonds with warrants

Q : What is the depreciation expense for the second year

Q : What would be the total revenue at the break even point

Q : Explain the fair value of its liabilities

Q : Coupon interest rate-dollar coupon

Q : How do the images used by poets

Q : What is the minimum price slugger should charge

Q : Determine the total depreciation expense for the four years

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Explain the fair value of its liabilities

Reference No:- TGS0677835

Recent Questions Asked Accounting Basics

Q : Prepare only the operating activities section

Q : Convertibles or bonds with warrants

Q : What is the depreciation expense for the second year

Q : What would be the total revenue at the break even point

Q : Explain the fair value of its liabilities

Q : Coupon interest rate-dollar coupon

Q : How do the images used by poets

Q : What is the minimum price slugger should charge

Q : Determine the total depreciation expense for the four years

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