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Juliana Corporation purchased all of the outstanding stock of Caldwell Inc., paying $3,400,000 cash. Juliana assumed all of the liabilities of Caldwell. Book values and
Juliana Corporation purchased all of the outstanding stock of Caldwell Inc., paying $3,400,000 cash. Juliana assumed all of the liabilities of Caldwell. Book values and fair values of acquired assets and liabilities were:
| Book Value | Fair Value | ||||||
| Current assets (net) | $ | 360,000 | $ | 580,000 | |||
| Property, plant, & equip. (net) | 1,690,000 | 2,190,000 | |||||
| Liabilities | 320,000 | 720,000 | |||||
Juliana would record goodwill of:
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