How much was paid for goodwill?
...Use the following information to answer the question below
Mr White acquired Mr Black's business for GH¢ 410,000. The total assets were GH¢ 670,000 and liabilities amounted to GH¢ 320,000.
How much was paid for goodwill?
GH¢ 350,000
GH¢ 260,000
GH¢ 90,000
GH¢ 60,000
Correct answer is D
Assets 670,000 - liabilities 320,000 = 350,000 (business value after liabilities claims)
Purchase price 410,000 - 350,000 business value = 60,000 goodwill
A bookkeeping error occurs when there is ...
The following transactions relate to Osei Enterprises for the year ended 31st December 2020. ...
The correct sequence in data processing is ...
Use the following information to answer the given question: SALES LEDGER CONTROL ACCOUNTS \(\b...
Which of the following is a debit item in the purchase ledger control account? ...
Which of the following is not a capital expenditure to a local government? ...