Calculate any goodwill on a business purchase Foofaraw Ltd paid $200 000 for the land, buildings, inventories and accounts payable of another business that will become a branch. The assets (after deducting the accounts payable of $50 000) had an aggregate fair market value of $1 87 000. 1 What (if anything) is the resulting asset on Foofaraw's balance sheet? 2 If Foofaraw had paid $185 000, what would be your answer to question 1