Question
Annapolis Company was recently sold for $490,000. Annapolis had assets & liabilities appraised at the time of the sale in the amounts of: Item Amount
Annapolis Company was recently sold for $490,000. Annapolis had assets & liabilities appraised at the time of the sale in the amounts of:
Item Amount
Accounts Receivable assumed by buyer $108,000
Inventory $295,000
Property, Plant & Equipment (net) $535,000
Notes Payable assumed by buyer $685,000
Using this information, how much should be recorded as Goodwill for this transaction?
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Financial Accounting
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
3rd Edition
0471372668, 978-0471372660
