Imagine you are the decision maker at Inglewood Inc. Prepare a fair value allocation and goodwill schedule at the date of the acquisition. Part One: Fair Value Allocation and Goodwill Schedule

Arizona Corp. had the next account balances at 12/1/19:
Receivables: $96,000; Stock: $240,000; Land: $720,000; Constructing: $600,000; Liabilities: $480,000; Frequent inventory: $120,000; Further paid-in capital: $120,000; Retained earnings, 12/1/19: $840,000; Revenues: $360,000; and Bills: $264,000.
A number of of Arizona’s accounts have truthful values that differ from guide worth. The truthful values are:
Land — $480,000; Constructing — $720,000; Stock — $336,000; and Liabilities — $396,000.
Inglewood Inc. acquired all the excellent widespread shares of Arizona by issuing 20,000 shares of widespread inventory having a $6 par worth, however a $66 truthful worth. Inventory issuance prices amounted to $12,000.
Think about you’re the determination maker at Inglewood Inc.
Put together a good worth allocation and goodwill schedule on the date of the acquisition.


Half One: Truthful Worth Allocation and Goodwill Schedule



Buy consideration (20,000 x 66)   1,320,000
Much less: internet guide worth of all belongings    
Commerce receivables 96,000  
Stock 240,000  
Constructing 600,000  
Land 720,000  
Liabilities 480,000 1,176,000
Extra truthful worth   144,000
Much less: Truthful worth changes    
Constructing (720,000-600,000) 120,000  
Land (480,000-720,000) -240,000  
Stock (336,000-240,000) 96,000  
Liabilities (-396,000+480,000) 84,000 60,000
Goodwill   84000


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