Question
Lake Incorporated purchased all of the outstanding stock of Huron Company, paying $1,090,000 cash. Lake assumed all of the liabilities. Book values and fair values
Lake Incorporated purchased all of the outstanding stock of Huron Company, paying $1,090,000 cash. Lake assumed all of the liabilities. Book values and fair values of acquired assets and liabilities were:
| Book Value | Fair Value | |||||
| Current assets (net) | $ | 185,000 | $ | 215,000 | ||
| Property, plant, equip. (net) | 600,000 | 755,000 | ||||
| Liabilities | 210,000 | 210,000 |
| |||
Lake would Record Goodwill of ?
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The Four Corners Of Financial Accounting
Authors: Shaho Heidari Gandoman
1st Edition
1952751950, 978-1952751950
