PepsiCo, Inc., has acquired several other companies. Assume that PepsiCo purchased Kettle Chips Co. for ($ 8)
Question:
PepsiCo, Inc., has acquired several other companies. Assume that PepsiCo purchased Kettle Chips Co. for \(\$ 8\) million cash. The book value of Kettle Chips' assets is \(\$ 12\) million (market value, \(\$ 15\) million), and it has liabilities of \(\$ 10\) million.
Requirements
1. Compute the cost of the goodwill purchased by PepsiCo.
2. Record the purchase of Kettle Chips by PepsiCo.
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