Cafe Ole’ Company acquired a fast -food restaurant for $1,500,00. The fair market values of the assets acquired were as follows. No liabilities were assumed.<\/p>\n
equipment $380,00<\/p>\n
land 200,00<\/p>\n
building 680,00<\/p>\n
franchise(5-year life) 120,00<\/p>\n
a. calculate the amount of goodwill acquired.<\/p>\n
b. prepare the journal entry to record the amortization of the franchise fee at the end of year 1.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
Cafe Ole’ Company acquired a fast -food restaurant for $1,500,00. The fair market values of the assets acquired were as follows. No liabilities were assumed. equipment $380,00 land 200,00 building 680,00 franchise(5-year life) 120,00 a. calculate the amount of goodwill acquired. b. prepare the journal entry to record the amortization of the franchise fee at […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_joinchat":[]},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/posts\/122288"}],"collection":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/comments?post=122288"}],"version-history":[{"count":0,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/posts\/122288\/revisions"}],"wp:attachment":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/media?parent=122288"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/categories?post=122288"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/tags?post=122288"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}