Question
Geet Marketing is acquiring Tusk Co. for $565,000 in cash. Tusk has fixed assets with a book value of $302,000 and an estimated market value
Geet Marketing is acquiring Tusk Co. for $565,000 in cash. Tusk has fixed assets with a book value of $302,000 and an estimated market value of $400,000, plus net working capital of $57,000. What amount of goodwill will Geet Marketing record in its books?
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$165,000
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$108,000
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$263,000
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$222,000
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Accounting Principles
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
12th edition
1119132223, 978-1-119-0944, 1118875052, 978-1119132226, 978-1118875056
