Question
Annapolis Company was recently sold for $460,000. Annapolis had assets & liabilities appraised at the time of the sale in the amounts of: Item Amount
Annapolis Company was recently sold for $460,000. Annapolis had assets & liabilities appraised at the time of the sale in the amounts of:
| Item | Amount |
| Accounts Receivable assumed by buyer | $87,000 |
| Inventory | $275,000 |
| Property, Plant & Equipment (net) | $570,000 |
| Notes Payable assumed by buyer | $635,000 |
Using this information, how much should be recorded as Goodwill for this transaction?
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Accounting Ethics
Authors: Iris Stuart
1st Edition
1118542401, 9781118542408
