Homework Answers
Good will = $ 3,200,000
Explanation;
Good will = $ 14,000,000 - ($8,300,000 + $ 2,500,000)
= $ 3,200,000
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please show work
son Corporation acquired all of the outstanding common stock of Smith Corporation or 12,920,000 in cash. The book value of Smith's net assets (assets minus liabilities) was $9,400,000. The fair values of all of Smith's assets and liabilities were equal to their book values with the following exceptions: Book Value Fair Value $2,900,000 S 2,540,000 Property, plant, and equipment 9,600,000 11,160,000 360,000 1,520,000 Receivables Intangible assets Required: 1. Calculate the amount paid for goodwill. 2. Prepare the...
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