Homework Answers
Solution:
| Computation of goodwill | ||
| Particulars | Amount | |
| Purchase price to acquire red river herald | $190,000.00 | |
| Market value of Red river herald assets | $70,000.00 | |
| Less: Market value of red river herald liabilities | $50,000.00 | |
| Less: Market value of Red river herald net assets | $20,000.00 | |
| Goodwill | $170,000.00 | |
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