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Maroons Limited acquired the net assets and contingent liabilities of Lewis Limited for $60 000. Lewis Limited's net assets and contingent liabilities were: total assets
Maroons Limited acquired the net assets and contingent liabilities of Lewis Limited for $60 000. Lewis Limited's net assets and contingent liabilities were: total assets $84 000; total liabilities $10 000; and contingent liabilities $12 000. Maroons Limited will record a: Select one: O again on bargain purchase of $2 000. b.goodwill of $2 000. O C. gain on bargain purchase of $60 000. O d. goodwill of $14000
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