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Johnson Corporation acquired all of the outstanding common stock of Smith Corporation for $13,400,000 In cash. The book value of Smith's net assets (assets minus
Johnson Corporation acquired all of the outstanding common stock of Smith Corporation for $13,400,000 In cash. The book value of Smith's net assets (assets minus liablities) was $9,800,000. The falr values of all of Smith's assets and labllities were equal to thelr book values with the following exceptions: Fair Value $ 3,388,888 $ 2,988,888 18,888,888 11,6ee,eee 1,698,8ee Book Value Receivables Property, plant and equipment Intangible assets 498,99e Required: Calculate the amount pald for goodwill. Goodwill
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