Bridgeport Corporation purchases Flint Inc. for $$3\mathrm{.}6$ M$.$ Flint has the following assets all recorded at cost:

Accounts Receivable

$$126,100$

Inventory

$$351\mathrm{.}700$

Land

$$502,800$

Building $($net$)$

$$350,700$

Equipment $($net$)$

$$50,800$

Total Assets

$$1,382,100$

$/4$

PM

PM

PM

The fair value of the assets is $$2,338,000$ and Bridgeport also assumes $$615,500$ of debt from Flint.

Determine if there is any goodwill related to Bridgeport's purchase of Flint and if so what is the value of the goodwill.

Goodwill

$

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ubscrit

Gene

Where is goodwill captured on the financial statements?

Goodwill is captured on the Statement of Financial Position under

Long$-$Term Assets