Crane Company's 12/31/21 balance sheet reports assets of $11400000 and liabilities of $4880000. All of Crane's assets' book values approximate their fair value, except for
Crane Company's 12/31/21 balance sheet reports assets of $11400000 and liabilities of $4880000. All of Crane's assets' book values approximate their fair value, except for land, which has a fair value that is $680000 greater than its book value. On 12/31/21, Egbert Corporation paid $11591000 to acquire Crane. What amount of goodwill should Egbert record as a result of this purchase?
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Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara A. Trenholm, Valerie A. Kinnear, Joan E. Barlow
6th Canadian Edition
1118557328, 978-1118557327
