Question
Annapolis Company was recently sold for $500,000.Annapolis had assets & liabilities appraised at the time of the sale in the amounts of: Item Amount Accounts
Annapolis Company was recently sold for $500,000.Annapolis had assets & liabilities appraised at the time of the sale in the amounts of:
Item Amount
Accounts Receivable assumed by buyer $117,000
Inventory $250,000
Property, Plant & Equipment (net) $550,000
Notes Payable assumed by buyer $675,000
Using this information, how much should be recorded as Goodwill for this transaction?
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Essentials of Accounting for Governmental and Not-for-Profit Organizations
Authors: Paul A. Copley
10th Edition
007352705X, 978-0073527055
