relationships, such as employer groups or members provider networks trademarks trade names software licenses favorable leases non-compete agreements goodwill Hospitals and other health care facilities licenses certificates of need managed care contracts goodwill Physician practices medical charts non-compete agreements managed care contracts goodwill 6.02 6.03 Supplies inventories are generally not very significant to the financial position of health care entities. However, because of the
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this investment? A. $24,000. B. $75,000. C. $99,000. D. $51,000. E. $80,000. 3. On January 1, 2011, Pacer Company paid $1,920,000 for 60,000 shares of Lennon Co.’s voting common stock which represents a 45% investment. No allocation to goodwill or other specific account was made. Significant influence over Lennon was achieved by this acquisition. Lennon distributed a dividend of $2.50 per share during 2011 and reported net income of $670,000. What was the balance in the Investment in Lennon
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these identifiable assets and liabilities is recorded as goodwill. ii. What percentage of the total (gross) assets acquired in the NDS acquisition (excluding liabilities assumed) are comprised of goodwill and other intangibles? Cash and cash equivalents 98,000,000 A/R 199,000,000 Other tangible assets 268,000,000 Goodwill 3,444,000,000 Purchased intangible assets 1,746,000,000 Total 5,755,000,000 % of goodwill and other intangibles of the total (5,190,000,000 / 5,755
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ACC211 Brief Exercise 12 Click Link Below To Buy: http://hwcampus.com/shop/acc211-brief-exercise-12/ Brief Exercise 12-1 Celine Dion Corporation purchases a patent from Salmon Company on January 1, 2014, for $78,790. The patent has a remaining legal life of 17 years. Celine Dion feels the patent will be useful for 10 years. Prepare Celine Dion’s journal entries to record the purchase of the patent and 2014 amortization. Account Titles and Explanation Debit Credit Patents 78
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Accounting standards for business consolidations XXXX ACC 407 Your name Date Accounting standards for business consolidations In competing market it is very common for one business to merge with another one. In order to survive in this rivalry marketplace, Companies need to expand business to the most profitable capacity. No matter what kind of reasons for company seeking extension under the ownership, the main one is to track potential profit. Today’s business environment Financial Accounting
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these "fair values” becomes goodwill, which Blockbuster labels "intangible assets relating to acquired businesses." APB Opinion 17 requires that goodwill be amortized to income (expensed) over 40 years or less. In the past, many companies automatically adopted 40 year amortization. Current practice (which is usually required by the SEC) is to relate the amortization period to the nature of the business acquired. Thus in a typical hi-tech acquisition the SEC requires goodwill to be amortized over 5 to
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over FY09. Activity ratio Assets turnover ratio has decreased by 13.22% from 0.58 in FY2009 to 0.51 in FY2010. This is due to increase in Property Plant and Equipment and goodwill. They purchased an office building worth 1.8$billion. There were a number of acquisitions amounting to approximately 1billion dollars. Goodwill ratio has decreased by 2.84% from 4.82 in FY 2009 to 4.69 in FY 2010. Intangible Assets ratio has decreased by 7.97% from 30.52 in FY 2009 to 28.09 in FY 2010 Cash turnover
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Intangible assets- practical approach An asset that is not physical in nature. Corporate intellectual property (items such as patents, trademarks, copyrights, business methodologies), goodwill and brand recognition are all common intangible assets in today's marketplace. An intangible asset can be classified as either indefinite or definite depending on the specifics of that asset. A company brand name is considered to be an indefinite asset, as it stays with the company as long as the company
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Abstract Intangible assets have been given a lot of attention by accounting professionals and other parties involved with their financial reporting lately, due to the difficulty they present in being precisely valued, classified and accounted for. For some companies, intangible assets make up the majority of their total company’s assets; for other companies, intangible assets are very small part of their total assets. In either case, accounting treatment of intangible assets has seen some
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