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Learning Objective 5 E10-26 Measuring and recording goodwill Princton has acquired several other companies. Assume that Princeton purchased Kellcher for $9,000,000 cash. The book value

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Learning Objective 5 E10-26 Measuring and recording goodwill Princton has acquired several other companies. Assume that Princeton purchased Kellcher for $9,000,000 cash. The book value of Kelleher's assets is $19,000,000 (market value, $20,000,000), and it has liabilities of $12,000,000 (market value, $12,000,000) 1. Goodwill $1,000,000 Requirements 1. Compute the cost of the goodwill purchased by Princeton. 2. Record the purchase of Kelleher by Princeton

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