Question
Annapolis Company was recently sold for $470,000. Annapolis had assets & liabilities appraised at the time of the sale in the amounts of: Item Amount
Annapolis Company was recently sold for $470,000. Annapolis had assets & liabilities appraised at the time of the sale in the amounts of:
Item
Amount
Accounts Receivable assumed by buyer $123,000
Inventory $300,000
Property, Plant & Equipment (net) $530,000
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 Theory Contemporary Accounting Issues
Authors: Thomas G. Evans
1st Edition
0324107846, 9780324107845
