9.

Annapolis Company was recently sold for $450,000. Annapolis had assets & liabilities appraised at the time of the sale in the amounts of:

Item	Amount
Accounts Receivable assumed by buyer	$93,000
Inventory	$250,000
Property, Plant & Equipment (net)	$530,000
Notes Payable assumed by buyer	$705,000

Using this information, how much should be recorded as Goodwill for this transaction?

10.

Bowie Company made a lump sum purchase of land, building, and equipment. The following were the appraised values of each element:

PP&E Element	Amount
Land	$15,000
Building	35,000
Equipment	45,000

Bowie paid $65,000 cash for the lump sum purchase. What value should be allocated to the building? (Enter only whole dollar values.)